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UBS: Henkel to Book Another 'Strong' Organic Sales Growth in Q3
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06:49 AM EDT, 10/12/2026 (MT Newswires) -- UBS Global Research expects Henkel (HEN.F) to report "another strong organic sales growth print" in the third quarter, supported by incremental pricing in Adhesives intended to counteract input cost inflation. The research firm forecasts a 4.2% increase in organic sales to 5.53 billion euros, exceeding the Visible Alpha consensus of 3.6% and indicating a "modest" sequential deceleration from 4.7% in the prior quarter, according to an earnings preview note focused on the European food and personal care sectors. "In [Henkel Adhesive Technologies], we model a further step up in price growth from +3.2% in Q2 to +4.5% in Q3, mostly reflecting the full benefit of the pricing actions implemented through the course of Q2; volumes should remain in positive territory (UBSe +1%) as Henkel does not expect any reversal from the past couple of quarters pre-buy in Q3. For [Henkel Consumer Brands], we have pricing returning to positive territory (+1.5% in Q3 up from -0.5% in Q2) owing to a more normalised promo environment in the quarter and the early benefit from recent price increases; volume-wise, we anticipate some slight sequential slow down to +1.2% (was +2.1% in Q2) mostly due to a higher basis of comparison," analysts said. "All in all, we arrive at a 7.5% increase in reported sales in Q3 with recent acquisitions adding c. 4% and FX shaving off c. -1%. For full-year 2026, the company's organic sales are expected to rise 3.1%, against market forecasts of 3%. UBS rates the German chemicals company's stock at neutral. Henkel is set to release its latest quarterly results on Nov. 10.
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