Nestlé CEO Philipp Navratil's turnaround strategy is showing signs of gaining traction after the world's largest packaged food company delivered stronger-than-expected third-quarter sales growth, driven by improving volumes.
Nestlé reported organic sales growth of 4% for the quarter, ahead of analyst expectations for 3.4%, while real internal growth, which reflects sales volumes and product mix, reached 2.8%. Analysts had expected growth of 1.5%.
The performance marked the first quarter since 2024 in which Nestlé's organic sales growth was driven more by volumes than higher prices, providing an important measure of progress under Philipp Navratil, who took over as chief executive in September 2025.
Navratil inherited a consumer goods group dealing with subdued consumer spending and pressure from US tariffs. He has made real internal growth central to Nestlé's strategy, alongside a greater focus on its strongest growth opportunities and efforts to improve performance across the business.
The latest figures suggest that approach is producing results. Nestlé's 2.8% real internal growth was almost twice the level analysts had forecast, while pricing contributed 1.1% compared with expec...