Danone (DN) Q3 2026 earnings summary

Executive summary

• Q3 like-for-like sales grew 4.0%, with growth across all three geographic zones and categories.

• 2026 guidance was confirmed: like-for-like sales growth of 3%–5%, with recurring operating income growing faster than sales.

Financial highlights

• Q3 sales were €7,233m, up 5.2% reported and 4.0% like-for-like.

• 9M sales were €21,176m, up 3.6% like-for-like and 2.9% reported.

• Q3 reported sales growth included +1.5% currency, -0.5% scope, -0.1% IAS 29 and +0.4% hyperinflation.

Outlook and guidance

• FY 2026 guidance remained 3%–5% like-for-like sales growth, with recurring operating income growing faster than sales, in line with mid-term ambition.

• North America priorities include restoring customer service, strengthening execution and competitiveness, and advancing a broader innovation pipeline for 2027.

• Specialized Nutrition emerging markets delivered double-digit growth in Latin America and Middle East Africa, and high-single-digit growth in the rest of APAC; resources are being reallocated to the region.