Nestlé’s third-quarter organic growth beats expectations

Nestlé reported 4% organic growth in the third quarter, up from 3.7% in the previous quarter and above analysts’ 3.5% forecast.

Higher sales volumes were the main driver, while price increases added 1.1 percentage points.

Sales volumes rose across all regions and global business areas, with pet food, food and snacks, and water among the sources of growth.

The company’s sales totalled 65.87 billion Swiss francs in the first nine months, nearly unchanged from a year earlier, while organic growth was 3.7%.

After several years of weak growth largely supported by price increases, chief executive Philipp Navratil has made lasting volume growth a priority.

Nestlé kept its 2026 targets, including organic growth of 3% to 4% and an improved adjusted operating margin compared with 16.1% last year.

The Russian business will leave Nestlé’s accounts from the end of September 2026 because Russian authorities placed its local companies under temporary external administration; the company expects a limited effect on its adjusted 2026 results.