Glanbia (LSE:GLB) has raised its full-year adjusted earnings guidance on Wednesday, pointing to adjusted earnings per share (EPS) growth of 22% to 24% at constant currency, up from a previous range of 17% to 20%.
The Better Nutrition company, whose brands span Performance Nutrition, Health & Nutrition and Dairy Nutrition, reported group like-for-like revenue growth of 9.9% for the nine months ended 3 October, with volume growth across all three segments.
The upgrade was underpinned by a standout performance from Optimum Nutrition, Glanbia's Performance Nutrition brand, which delivered like-for-like revenue growth of 25.8% year-to-date, accelerating to 26.9% in the third quarter alone.
That third-quarter growth broke down to just 0.8% volume against 26.1% price, reflecting pricing actions taken in response to significant whey inflation.
"Glanbia delivered a strong performance in the first nine months of the year, delivering Group like-for-like revenue growth of 9.9%, with volume growth across all three segments," said chief executive Hugh McGuire, adding that the company is "uniquely positioned to capitalise on favourable category dynamics and sustained consumer demand."
The Performance Nutrition segment's full-year revenue growth guidance moves up to 16% to 17%, from 12% to 14% previously. Dairy Nutrition's full-year EBITDA guidance narrows to $175 million to $180 million, from a prior $170 million to $180 million range.
Health & Nutrition posted revenue growth of 9.8%, with volume up 11.5% on strong demand across active nutrition, functional beverages and vitamins, minerals and supplements. The business unit was also aided by the acquisitions of Sweetmix in Brazil and Scicore in India.
Dairy Nutrition grew revenue by 2.1%, with protein solutions delivering double-digit pricing growth that was partly offset by weaker cheese pricing.
Net debt stood at $704 million at the end of the period, down $15 million from the same point in 2025, with $1.3 billion in committed debt facilities in place.
Glanbia also confirmed Wendy Chang Smith as CFO Designate, set to become chief financial officer and executive director from 31 March 2027.