--- title: "雀巢 (ADR) 股价自互联网泡沫破裂以来出现最大跌幅，因疲软的销量打破了对公司扭转局面的高度期望" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/293609941.md" description: "雀巢 (ADR) 的股价暴跌至自互联网泡沫破裂以来的最低水平，原因是北美销售量疲软削弱了对首席执行官 Philipp Navratil 重振公司努力的信心。尽管有超过预期的 3.7% 的有机销售增长，但北美的实际内部增长下降了 0.6%，受到婴儿配方奶粉召回和地缘政治冲突的影响。股价下跌反映了对反弹的希望停滞，尽管公司维持了其利润率指引，并宣布了水业务的合资企业" datetime: "2026-07-23T11:45:50.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293609941.md) - [en](https://longbridge.com/en/news/293609941.md) - [zh-HK](https://longbridge.com/zh-HK/news/293609941.md) generator: "portal-rs" --- # 雀巢 (ADR) 股价自互联网泡沫破裂以来出现最大跌幅，因疲软的销量打破了对公司扭转局面的高度期望 Nestlé shares in Switzerland tumbled the most in 24 years after North American sales volumes unexpectedly contracted, undercutting investor confidence in CEO Philipp Navratil's turnaround efforts. Organic sales rose a better-than-expected 3.7% in the second quarter, but real internal growth in North America fell 0.6%, while an infant formula recall and the Gulf conflict weighed on operations. "**Given the rally, we don't think the real internal growth print is quite good enough and expect some profit taking**," Barclays analyst Warren Ackerman said in a note. Ackerman said, "**NESN's turnaround is a work in progress, and expectations were too elevated, which explains the steepest fall in the shares since 2020**." If the 7.2% decline holds through the European close, it would mark Nestlé's steepest one-day loss since July 22, 2002, according to Bloomberg data. Shares peaked around 127 euros in late 2021 and have since fallen 44% into a 4.5-year bear market. Any upside momentum seen this year has stalled - for now - as hopes of a turnaround dim. Ackerman added, "**Coffee and Petcare remained strong, but were not sufficient to offset weakness elsewhere**." Here's what other institutional desks are saying (courtsey of Bloomberg): **Citi (neutral)** - *Cedric Besnard doesn't expect changes to consensus expectations on the back of the print "as the end of the sequential H2 margin acceleration narrative is actually aligned with current expectations"* - *"Especially after a relatively strong share price performance recently, we would not expect a re-rating," Besnard writes* **Vontobel (buy)** - *"Nestle is showing clear execution on the key priorities, marking a meaningful milestone in this new strategic roadmap," Jean-Philippe Bertschy writes* - *Adds accelerating RIG, cost savings and improving cash generation are particularly reassuring given higher advertising and marketing spend* Nestlé also agreed to sell half of its Perrier and S.Pellegrino water business to Platinum Equity for 3 billion euros in cash, creating a 50-50 venture valued at 4.9 billion euros. The **deal advances Navratil's plan to shed underperforming assets and refocus the company heavily on coffee, pet care, nutrition, food and snacks**. **Navratil is pulling every lever to stabilize the sinking ship**, and the strategy appears to be working. As CFO Anna Manz told investors on an earnings call earlier today: *"You see us manage, as we have in the first half, any elements that come our way quite consistently, and that's why we're maintaining our margin guidance today."* ### 相关股票 - [NSRGY.US](https://longbridge.com/zh-CN/quote/NSRGY.US.md) - [BCS.US](https://longbridge.com/zh-CN/quote/BCS.US.md) - [C.US](https://longbridge.com/zh-CN/quote/C.US.md) - [NSRGF.US](https://longbridge.com/zh-CN/quote/NSRGF.US.md) - [BARC.UK](https://longbridge.com/zh-CN/quote/BARC.UK.md) - [C-R.US](https://longbridge.com/zh-CN/quote/C-R.US.md) ## 相关资讯与研究 - [雀巢首席执行官称中东冲突推高通胀及供应商成本](https://longbridge.com/zh-CN/news/298588873.md) - [一周回顾 | 雀巢 (ADR) 累跌 0.81%，机构一致评级中性](https://longbridge.com/zh-CN/news/298101275.md) - [摩根大通维持对雀巢的持有评级（NSRGF）](https://longbridge.com/zh-CN/news/298351497.md) - [雀巢 (ADR) 委托仲量联行为其在全球 130 个国家的房地产投资组合提供服务](https://longbridge.com/zh-CN/news/298339012.md) - [印度食品行业团体告知最高法院：采用100克阈值作为食品警示标签标准并不合适](https://longbridge.com/zh-CN/news/298545473.md) --- > **免责声明: 本文仅供参考，不构成任何投资建议。**