Henkel Beats Sales Forecasts on Resilient Volume Growth
The German consumer goods company reported a 1.7% rise in organic sales for the first quarter, surpassing analyst expectations of 1.1%. Growth was supported by a balance of price increases and volume gains across both its adhesive technologies and consumer brands divisions.
HENKEL AG & CO KGAA is a German consumer goods and adhesives maker that reported a 1.7% rise in first-quarter organic sales to 4.95 billion euros. The result beat the 1.1% growth forecast by analysts in a Vara Research poll. Volume growth across both business units drove the performance.
Shares of Henkel rose 4.3% during the morning following the sales beat. CEO Carsten Knobel attributed the performance to a balance between a 0.7% price increase and a 1.0% rise in volumes.
