Glanbia reports "strong performance" with revenue, earnings growth

Glanbia PLC on Thursday reported increased interim profit and revenue, and upgraded its full-year growth estimates, as well as raising the dividend.

Glanbia shares were 3.3% higher at EUR23.86 early on Thursday afternoon in London.

The Kilkenny, Ireland-based sports nutrition company reported pretax profit of USD180.5 million for the first half of 2026, up from USD114.5 million the year before.

Revenue increased 7.9%, or 7.0% at constant exchange rates or on a like-for-like basis, to USD2.1 billion from USD1.9 billion.

Earnings before interest, tax, depreciation and amortisation increased 14% to USD275.4 million from USD241.3 million.

Basic earnings per share jumped 63%, or 67% at CER, to 63.68 US cents from 39.04 cents. Adjusted EPS rose 29%, or 30% at CER, to 81.24 cents from 63.03 cents.

Glanbia's Performance Nutrition segment delivered LFL revenue growth of 17%, with 25% growth from Optimum Nutrition. The Health & Nutrition segment's LFL revenue growth rate was 12%. Dairy Nutrition generated LFL growth of 3.8%.

Chief Executive Officer Hugh McGuire commented: "I am pleased to report that the group delivered a strong performance...We delivered volume and like-for-like revenue growth across all three segments, reflecting disciplined execution as we continue to navigate whey cost inflation within Performance Nutrition.

"Optimum Nutrition delivered double digit volume growth in the period driven by accelerating category growth, increased distribution, ongoing innovation and the brand's continued leadership within the category. We also generated strong volume growth across Health & Nutrition and Dairy Nutrition, with good demand in H&N's end-use markets and strong volume and pricing growth in protein solutions within DN."

Glanbia declared an interim dividend of 18.92 euro cents per share, up 10% from 17.20 cents year-on-year.

Looking ahead, Glanbia upgraded its full-year guidance, saying it now expects adjusted EPS to increase by between 17% and 20% at CER. It had previously guided for growth of 7% to 11%.

Glanbia also forecast Performance Nutrition LFL revenue growth of 12% to 14%, having previously eyed growth at the upper end of 7% to 11%. McGuire said this "will be driven by category and end-use consumer market demand and a strong operating performance across all three segments."

Health Nutrition LFL revenue growth is forecast at 8% to 10%, up from prior guidance of the upper end of 4% and 6%. Additionally, Glanbia forecast Dairy Nutrition Ebitda of USD170 million to USD180 million, compared with previous guidance of USD160 million to USD170 million. The segment's first-half Ebitda was USD92.3 million, up on-year from USD72.2 million.

"We continue to advance our group-wide transformation programme, and following strong progress year-to-date, we are now increasing our annual cost savings target from USD60 million to USD70 million by FY 2027," McGuire added.

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