July 28, 2026 06:18 AM GMT Croda | Europe M Update 2Q LFL beat. FY26 on track. AlphaSignals Earnings Reaction Strengthens our thesis Modest upside Largely unchanged Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research Key Takeaways Bottom line...we expect the shares to outperform the market today on the back of (i) a 2Q LFL beat at 8.8% (Cons 7.7%) fully driven by Consumer Care (+13.5%) on BA (+27%)/BC (+12%), with (ii ...