Glanbia PLC on Wednesday celebrated a ‘strong performance in the first quarter, with like-for-like revenue growth across all its business segments.
In response, Glanbia shares were 15% higher at €19.68 each midday Wednesday in London.
For the three months that ended April 4, Glanbia reported comparable revenue growth of 7.2% on a year before, ’with strong volume growth across all three segments‘.
Kilkenny, Ireland-based sports nutrition company also said it has made progress on its ’transformation programme‘, and aims for ’at least‘ $60 million in annual savings by calendar 2027.
For the first quarter, the Performance Nutrition segment saw 12% like-for-like revenue growth on an annual basis. Optimum Nutrition booked 19% growth, thanks to ’accelerating category growth, new distribution and continued innovation‘.
Volumes for Performance Nutrition grew 9.2%, while revenue rose 3.5% at reported rates and 1.3% at constant exchange rates.
Glanbia also reported 12% like-for-like revenue growth for the Health & Nutrition division, with volumes growing 13% due to ’strong demand across priority end-use markets‘. Revenue jumped 18% at reported currency and 15% at constant currency.
Dairy Nutrition, meanwhile, saw revenue increasing 2.0% like-for-like, with 2.3% reported growth and 2.0% constant currency growth. Glanbia highlighted ’strong volume and pricing growth in protein solutions‘. The segment’s overall volumes increased 6.4%, although prices decreased by 4.4%.
In its financial year to date or between February 25 and Monday, meanwhile, Glanbia said it has repurchased 1.3 million shares at an average price of €17.14 in Dublin, returning €22.2 million to shareholders.
‘I am pleased to report that Glanbia delivered a strong performance in the first quarter,’ Chief Executive Officer Hugh McGuire commented, adding that the portfolio ‘[benefitted] from accelerating category growth and good end-use market demand.’
Looking ahead, Glanbia for financial 2026 expects adjusted earnings per share growth ‘to be at the upper end of medium-term guidance of 7% to 11% [at] constant currency.’ For the year ended January 3, it reported adjusted EPS of 134.93 US cents, down 3.6% from 140.03 cents in financial 2024.
‘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,’ McGuire said.
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