Declining Forecasts

Barry Callebaut AG’s interim results triggered an 18 % decline in the stock to CHF1,085, despite revenues and statutory earnings per share aligning with analyst estimates. Analysts responded by downgrading their consensus forecasts: the 2026 revenue outlook is now CHF13.0 billion, an 8.8 % drop from the previous year, and statutory EPS is projected at CHF43.71. The range for per‑share earnings is broadened to a most optimistic estimate of CHF1,900 and a pessimistic estimate of CHF1,000. The consensus price target fell 6.5 % to CHF1,328, reflecting the anticipated decline in revenue growth. Analysts now expect an annualised revenue decline of 17 % by the end of 2026, signalling that Barry Callebaut will trail industry peers in revenue growth.