Davide Campari-Milano N.V. Q2 2026 Earnings Recap

Campari shares fell 7.3% after results, despite the company confirming full-year guidance. The likely pressure point was softer North American performance: growth there was just 1%, with strength in aperitifs and tequila offset by weakness in other categories and a tough comparison in Jamaica.

Key Takeaways

• Nine-month organic sales grew 2.9%; Q3 growth was 3.4%, with Europe the primary driver.
• Europe grew 3.8%, led by Italy and the U.K.; all other countries in the region were also in growth.
• North America grew 1%. The U.S. delivered progress in aperitifs and tequila, but challenging trends in other categories weighed on performance.
• Jamaica’s nine-month results were affected by a high Q3 comparison, following 52% growth in the same quarter last year.
• Management said sell-out share gains continued across key markets and confirmed full-year guidance.