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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Davide Campari-Milano
Davide Campari-Milano (CPR) investor relations material
Davide Campari-Milano Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary28 Oct, 2026
Executive summary
9M organic sales grew 2.9%, including 3.4% in Q3, marking a sixth consecutive quarter of growth across most brand houses and regions.
44 countries delivered mid-single- to double-digit growth; aperitifs and tequila drove share gains and sell-out outperformance.
Execution remains focused on fewer, larger growth bets, with mid- to high-single-digit midterm growth ambition.
Financial highlights
9M net sales were €2,289m, up 0.4% reported: +2.9% organic, -2.1% perimeter and -0.4% FX.
Q3 net sales were €777m, up 3.2% reported and 3.4% organically, with -2.4% perimeter and +2.2% FX effects.
2025 US tariff refunds of €15m were collected; part was reinvested and part used to offset H2 cost-of-goods pressure.
Outlook and guidance
FY 2026 organic topline growth guidance was reaffirmed at ~3%, with stronger growth expected in Europe and lower growth in North America.
Organic adjusted EBIT margin accretion was confirmed; underlying organic gross-margin trend is positive, A&P investment is stepping up and SG&A includes a 70 bps margin benefit.
US full-year topline is expected to decline marginally, as softer H2 category trends and a high Q4 comparison offset aperitifs and tequila growth.
Expected perimeter impact is ~€70m on topline and ~€30m on adjusted EBIT; FX is expected to be negative, mainly due to the USD.
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Latest events from Davide Campari-Milano
- Organic sales grew 10.5% and adjusted EBIT rose 15.5% in FY 2023.CPR
Q4 2023 - Organic net sales up 2.7% in H1 2026, with margin expansion and raised EBIT margin guidance.CPRQ2 2026
- Q1 2026 delivered +2.9% organic growth, with ~3% full-year guidance and margin gains expected.CPRQ1 2026
- Organic sales up 2.4%, margin expansion, and a 54% dividend increase with improved leverage.CPRQ4 2025
- Solid organic growth and margin resilience achieved despite macro headwinds, with leverage down to 2.9x.CPRQ3 2025
- H1 2025 saw resilient sales, margin gains, and Q2 acceleration, but net profit fell 6% amid FX and tariff risks.CPRQ2 2025
- Net sales up 2.1% organically, but margins and profit fell as costs and debt increased.CPRQ3 2024
- Solid H1 2024 growth, Courvoisier acquisition, and higher leverage amid resilient brand momentum.CPRQ2 2024
- Q1 2025 saw flat sales, margin pressure, and higher debt amid macro and tariff headwinds.CPRQ1 2025
Next Davide Campari-Milano earnings date
Q4 20263 Mar, 2027
Davide Campari-Milano
Next Davide Campari-Milano earnings date
Q4 20263 Mar, 2027
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Frequently asked questions
The 162-year-old Italian beverage giant
With more than 160 years of experience, The Campari Group features a portfolio of well-known beverage brands and is one of the major players in the liquor industry. They are owners, producers, and sellers of legendary brands such as Campari, SKYY Vodka, Aperol, Appleton, Cinzano, and Wild Turkey. The group is also producers and distributors of, among others, Henkell Trocken, Lipton Ice Tea, and Jägermeister.
Founded in Italy 1860
Gaspare Campari founded the company in 1860 when he started a distillery, a bar, and a café called Caffé Camparino in Milan. When he passed away, one of his five sons, Davide Campari, took the throne. Davide truly boosted the company, developing the Sesto San Giovanni plants in 1904 and concentrating the production on only two products - the Bitters and the Cordials.
Negroni, nothing without the Campari Bitter
Most famous for their Campari Bitters (the key ingredient in the classic Negroni), which despite being in production for over 160 years, still is a staple bar cabinet. In 2021, the Campari-based Negroni took the number one spot as the Best Selling Cocktail, while Aperol Spritz placed sixth.