Glanbia said it now expects earnings growth for 2026 to be at the “upper end” of its previous guidance of 7% to 11%. The update came as the company announced financial results for the first quarter of the year which showed 7.2% revenue growth and “strong volume growth” across all three business segments.
The key performance nutrition segment saw like-for-like revenue growth of 11.5%, with Optimum Nutrition revenue accelerating 18.8% as demand remains high for the protein product.
The only blot on the earnings numbers was the hit to the dairy nutrition segment from the drop in the cheese market. The company said it saw a 6.4% increase in volumes in the period, but a 4.4% decrease in prices which “was a result of negative cheese markets in the first quarter of the year”.
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Hugh McGuire, chief executive officer, said: “We continue to see strong demand for our brands and ingredients and remain focused on executing on our medium-term strategy, notwithstanding the current geopolitical uncertainty.”
The earnings update came ahead of the company’s AGM on Wednesday 29 April* in the Killashee Hotel. That meeting will probably be an easier affair than usual for the company’s leadership this year, as Glanbia’s share price has increased by over 90% over the last 12 months. The shares were trading at €19.15 at 8.30am.
*Updated on 29 April 2026 to correct date of AGM in final paragraph.
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Glanbia said it now expects earnings growth for 2026 to be at the “upper end” of its previous guidance of 7% to 11%. The update came as the company announced financial results for the first quarter of the year which showed 7.2% revenue growth and “strong volume growth” across all three business segments.
The key performance nutrition segment saw like-for-like revenue growth of 11.5%, with Optimum Nutrition revenue accelerating 18.8% as demand remains high for the protein product.
The only blot on the earnings numbers was the hit to the dairy nutrition segment from the drop in the cheese market. The company said it saw a 6.4% increase in volumes in the period, but a 4.4% decrease in prices which “was a result of negative cheese markets in the first quarter of the year”.
Hugh McGuire, chief executive officer, said: “We continue to see strong demand for our brands and ingredients and remain focused on executing on our medium-term strategy, notwithstanding the current geopolitical uncertainty.”
The earnings update came ahead of the company’s AGM on Wednesday 29 April* in the Killashee Hotel. That meeting will probably be an easier affair than usual for the company’s leadership this year, as Glanbia’s share price has increased by over 90% over the last 12 months. The shares were trading at €19.15 at 8.30am.
*Updated on 29 April 2026 to correct date of AGM in final paragraph.
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