Campari Beats Analyst Forecasts With 4.4% Sales Rise as U.S. Tariff Impact Falls to $17.5 Million

Italian spirits company Campari reported on Wednesday that the impact of U.S. import tariffs on its business has been less severe than initially expected. The company, known for brands such as Aperol and Campari, confirmed its full-year financial guidance after posting a 4.4% increase in comparable net sales for the most recent quarter.

Campari said it now expects the effect of U.S. tariffs to be about 15 million euros, or $17.5 million, for 2025. This figure is lower than the upper end of its earlier estimate, which ranged from 4 million to 45 million euros. The company continues to forecast moderate organic net sales growth and anticipates a “flattish organic trend” for its adjusted operating profit next year, even after factoring in the tariff impact.

Chief executive Simon Hunt stated that Campari remains confident in achieving long-term sustainable growth and ongoing financial deleveraging. He emphasized that the company’s strategy is on track despite the challenges posed by tariffs and other market pressures.

The July-September period is typically the peak season for Campari’s aperitifs, including Aperol and Campari itself. During this quarter, the group reported adjusted earnings before interest and taxation (EBIT) of 165.6 million euros. This result surpassed analysts’ expectations, with Visible Alpha’s consensus estimate at around 150 million euros.

Campari plans to provide further updates to investors during its upcoming strategy day events scheduled for November 6 and 7. The company’s performance in the U.S., one of its key markets, has been closely watched as trade tensions and tariffs have affected many European beverage exporters.

Despite these headwinds, Campari’s latest results suggest resilience in consumer demand for its products and effective management of external risks. The company’s ability to maintain its guidance and outperform analyst forecasts indicates a stable outlook as it moves into the final months of the year.