Glanbia has raised its full-year revenue and profit forecasts after a "strong" first half across the group's divisions, including Performance Nutrition.
The Ireland-based company, which owns brands such as Optimum Nutrition and Isopure, now expects adjusted earnings per share (EPS) to grow 17-20% on a constant-currency basis in 2026.
It had previously guided to the upper end of a 7-11% range.
CEO Hugh McGuire said today (6 August) that adjusted EPS growth “will be driven by category and end-use consumer market demand and a strong operating performance across all three segments”.
Glanbia raised its outlook for like-for-like revenue growth in its Performance Nutrition unit to 12-14%, from the upper end of its prior 5-7% range.
In Health and Nutrition, it upped growth expectations to 8-10%, from the high end of 4-6% previously. Its forecast for dairy nutrition EBITDA was lifted to $170m-$180m, from $160m-$170m.
For the six months to 4 July, Glanbia's group revenue rose 7% on a constant-currency basis to $2.1bn, while reported sales were up 7.9% at $2.08bn.
Operating profit increased 52.4% to $190.1m. Profit after tax climbed 54.7% to $153.8m.
Performance Nutrition revenue increased 6.7% in constant currency to $917.2m, driven by like-for-like sales growth of 16.9%, with volumes up 9.3% and pricing up 7.6%.
EBITDA in the division rose 7.4% to $115.2m.
Optimum Nutrition, which accounted for 79% of Performance Nutrition sales, posted like-for-like revenue growth of 25.2%.
Glanbia said the brand benefited from category growth, increased distribution and innovation.
In the US, Optimum Nutrition delivered "measured" consumption growth of 23.5% in the 13 weeks to 4 July.
McGuire said: “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.”
Elsewhere, Health & Nutrition and Dairy Nutrition also recorded growth in the half, supported by demand in end-use markets and protein solutions.
