Glanbia PLC (LSE:GLB)

Half Year 2026 Glanbia PLC Earnings Call Transcript

Aug 6, 2026 / 07:30 AM GMT

Release Date Price: €23.6 (+2.16%)

Transcript

Key Points

Positve

Glanbia PLC (GLAPF) delivered a strong first half with adjusted EPS up 30% in constant currency, driven by robust growth across all three operating segments.
The company upgraded its full-year adjusted EPS guidance to 17-20% constant currency growth, reflecting strong momentum and confidence in the business.
Performance Nutrition saw like-for-like revenue growth of 16.9%, led by the flagship Optimum Nutrition brand, which delivered 25.2% growth with strong volume and pricing.
The group-wide transformation program is ahead of plan, with annual savings target increased from $60 million to $70 million by 2027, driven by supply chain and digital initiatives.
Glanbia PLC (GLAPF) continues to return value to shareholders, raising the interim dividend by 10% and completing a €100 million share buyback program.

Negative

Performance Nutrition margins were broadly flat year-over-year due to record-high whey protein costs, which continue to create significant headwinds.
The company is seeing early signs of consumer price elasticity in specific channels and pack sizes following multiple rounds of price increases, and expects some volume softness in H2.
Health & Nutrition EBITDA margins declined 110 basis points due to increased raw material costs, which are expected to persist into the second half of the year.
Supply chain disruptions from the ongoing Middle East conflict are causing increased costs and higher inventory levels, particularly impacting the Health & Nutrition segment.
The company faces a tougher comparable in H2 2026 due to lapping distribution gains from the prior year, which will moderate revenue growth.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GL9.I - Glanbia PLC
Half Year 2026 Glanbia PLC Earnings Call
Aug 06, 2026 / 07:30AM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by.

Welcome to Glen Beer H Year 2026 results conference call.

At this time, all participants are in a listen-only mode.

After the speaker's presentation, there will be a question-and-answer session.

To ask a question during the session, you will need to press 1 and 1 on your telephone.

You will hear an automated message advising your hand is raised.

To withdraw your question, please press 1 and one again.

Please be advised that today's conference is being recorded.

And I'd like to hand the conference over to Mr.

Liam Hannigan, group secretary and head of investor relations.

Please go ahead.

Thank you,

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