- Unilever reported better-than-expected 5.7% third quarter sales growth that beat Wall Street predictions of 4%. It was Unilever's highest growth rate in nearly three years.
- The company rode the summer success story of its ice cream brands, namely Magnum and Ben & Jerry's, as the refreshments segment, which includes ice cream, pushed sales up by 8.5% for the quarter.
- Unilever also boosted its full-year sales forecast to expectations of reaching "towards the upper end" of a 2% to 4% range.
Unilever, particularly its ice cream brands, benefited from two market factors. First, Europe saw its hottest summer on record, which drove a "strong ice cream season," the company said.
The company also recently bought gelato producers GROM in Italy and Talenti in the U.S.
The R&D efforts promised last quarter seem to be paying off, particularly for the premium ice cream sector with products like Ben & Jerry’s Cores, which feature pints of ice cream filled in the middle with indulgences like fudge or caramel.