Campari jumps on Q2 beat, more favourable tariff environment
BUZZ-Campari jumps on Q2 beat, more favourable tariff environment July 30 - ** Shares in Italy's Campari CPRI.MI are up 4%, paring earlier gains of 8%, after the spirits producer reported on H1 results above expectations and lifted its 2026 outlook on a lower tariff impact
** H1 adjusted operating profit rises 8.5% organically y/y to €358 million ($410 million), above a Visible Alpha consensus of €331 million
** The group now sees an "incremental uplift to FY adjusted EBIT margin"
** J.P. Morgan notes there is still further upside to margins on a potential refund of 2025 U.S. tariffs — for which Campari estimated an impact of €15 million — and lower H2 tariffs, amounting to potential 4-5% EBIT upgrade
** "Campari is emerging as a stronger company within the European Spirits peer set," JPM adds
** Jefferies also says Campari is executing well, with top-line momentum improving and higher diversification among growth-drivers
** The stock currently sits at the top of Italy's blue-chip index .FTMIB and including Thursday's rise, it has gained over 10% YTD
($1 = 0.8739 euros)
(Reporting by Anna Uras, Enrico Sciacovelli)