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Oct 28 2026, 07:24 GMT
Danone
Q3 update – volume miss; guidance confirmed
DAVY VIEW
Q3 like-for-like (LFL) sales growth was marginally ahead of consensus at +4% (VA: +3.9%), although volume/mix growth was softer at +0.4% (VA: +0.9%), led by weakness in Waters. We continue to believe the extent of recent equity underperformance has been disproportionate to the underlying earnings risk.
