Heatwave Boosts Ice Cream Sales as Magnum Beats Earnings Forecasts

The Magnum Ice Cream Company (MICC) posted first-half core earnings above analyst expectations on July 30. Cost cuts since its 2025 spinoff from Unilever (UL) drove the beat, alongside a heatwave-driven summer surge for Ben & Jerry's.

Revenue reached €4.7 billion, up from €4.5 billion a year earlier, with organic sales growth of 4.7% across every region. Adjusted EBIT climbed 7.5% to €716 million, though separation costs pulled net profit down to €349 million.

Ben & Jerry's Powers a Hot Start to Summer

Ben & Jerry's led the gains across the portfolio. Growth accelerated sharply once summer heat set in across Europe. New stick and sandwich formats pulled fresh buyers into the brand, both in the Americas and in Europe.

"Ben & Jerry's grew mid-single-digit and had an outstanding second quarter with 9.2% growth."

Peter ter Kulve, the company's CEO, praised a frontline-first operating model in a statement tied to the results. Sustained heat across Europe has already lifted other heatwave-driven cooling stocks this summer, and that trend now extends to frozen treats.

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