L'Oreal 'returns to form' in Q1, shares rise

Loreal SA

23/04/2026 07:28

** Shares in L'Oreal OREP.PA rise about 5% on Tradegate after the French cosmetics giant's Q1 sales beat expectations

** L'Oreal's Q1 sales rise 6.7% of 12.15 billion euros ($14.22 billion) - the fastest quarterly sales growth in two years

** J.P.Morgan says Q1 sales beat its own and consensus estimates of 5.1% and 5.7% respectively

** "The hyperbole seems justified," RBC says, adding the company's commentary on strong Q1 implies it is not an anomaly or a result of technical tailwinds

** "L'Oreal has returned to form," RBC says

** JPM sees mixed read-across to peer Puig PUIGb.MC, as L'Oreal cites normalization in growth in the fragrance market and a slowdown in the LATAM beauty market, while the beauty market in Europe remains resilient

** The broker adds comments are also a mixed signal for Japanese beauty market:

growth in Vietnam is good news for Rohto Pharmaceutical 4527.T;

decline in travel retail is of concern to Shiseido 4911.T and Kose 4922.T, while recovery in China and limited impact of Middle East tensions reassure

($1 = 0.8543 euros)

 (Reporting by Piotr Lipinski)

 ((piotr.lipinski@tr.com))