Berenberg Forecasts 'Solid' Q2 from De'Longhi on Comfort Unit Boost, Tariff Tailwinds

01:43 AM EDT, 07/13/2026 (MT Newswires) -- Berenberg expects De'Longhi (DLG.MI) to deliver robust second-quarter results, highlighting the anticipated performance of the Italian small domestic appliances maker's comfort segment as well as tariff-related rebates and savings. "We expect De'Longhi to deliver solid Q2 2026 results, [colored] by strong performance in its Comfort division (3-4% of sales from portable air conditioners) and a net rebate from International Emergency Economic Powers Act (IEEPA) tariffs. We increase our EPS estimate for 2026 by 4%. We continue to keep one eye on the expansion of Ninja in De'Longhi's core category, and remain Hold-rated as a result," analysts said in a July 10 note. The research firm expects organic growth in De'Longhi's core household unit to improve sequentially to 5% like-for-like from the first quarter's 1%, driven by "solid" demand recovery, while its professional division is projected to grow by 15% despite a high comparison base. Meanwhile, the comfort business is anticipated to report double-digit growth due to record June temperatures in Europe, adding 1 percentage point to the quarter. "As a result of this, alongside lower effective tariff rates and a EUR15m estimated tariff rebate, we increase our Q2 adjusted EBITDA estimate from EUR135m to EUR150m, and our full-year figure to EUR653m (from EUR637m)," the note said. Analysts also made minor lifts to their full-year 2026 to 2028 sales estimates. Berenberg has a price target of 40 euros on the stock. De'Longhi is scheduled to publish its half-year report on July 30.