London, Feb 5, 2026, 08:32 GMT — Trading underway.
- Unilever shares slipped 0.25% in early London trading, underperforming a steady FTSE.
- Investors turn their attention to full-year results on Feb. 12 and the company’s strategy beyond ice cream
- The analyst consensus monitored by the company indicates mid-single-digit growth in “underlying” sales
Unilever shares slipped 0.25% to 5,165 pence in early London trade Thursday, shedding 13 pence from Wednesday’s close. The stock finished the previous session at 5,178 pence, putting the consumer goods giant’s market cap near £112.6 billion. (London South East)
The move is modest, yet the timing is crucial. Unilever is set to release its fourth-quarter and full-year 2025 results next week. Historically, the stock reacts to volume trends, especially as price increases lose steam and consumers grow more selective.
Unilever has set Feb. 12 for its earnings release and already put out a pre-close update plus a summary of analyst estimates. The forecast consensus shows underlying sales growth — Unilever’s organic figure that excludes currency effects and acquisitions — at 3.9% for Q4 and 3.5% for all of 2025, alongside a 20.0% underlying operating margin. (Unilever)
Traders are zeroing in on the breakdown between “volume” and “price” within that growth figure. Volume tracks how much Unilever moves; price reflects what it charges. When price drives growth but volume stalls, the market usually gets nervous.
The broader market wasn’t ignored. London’s FTSE 100 hit a record high Wednesday, fueled by a shift into traditional sectors. Meanwhile, software stocks tumbled amid worries over AI-driven disruption. Consumer staples typically attract buying in these conditions. (The Guardian)
A Barclays note this week backed that outlook for Unilever, suggesting a rebound in emerging markets combined with cost savings could boost margins by 2026, Proactive Investors reports. (Proactiveinvestors UK)
Peers will set the tone. Investors are leaning on updates from major household and food giants like Nestlé, Procter & Gamble, and Reckitt to gauge how quickly pricing is stabilising and if promotions are having an impact.
Unilever is still coming to terms with shedding its ice cream division, Magnum, part of a wider move to streamline operations and focus more on personal care and beauty. “For the underlying Unilever business, ice cream has been a drag on volumes,” Edward Lewis, an analyst at Rothschild & Co Redburn, told Reuters back then. (Reuters)
But there are clear risks. Falling short on volumes, a harsher promotional landscape in key markets, or margin hits from input costs and currency swings could leave the stock vulnerable—especially now that consensus estimates are out in the open.
Next on the calendar: the Feb. 12 earnings report and outlook. Just days later, attention shifts to CEO Fernando Fernandez’s talk at the CAGNY conference on Feb. 17. Any adjustments to medium-term targets or changes in capital return plans could shake up the stock. (Unilever)
