Glanbia plc has announced its 2026 half year results for the six-month period ending on July 4 (HY2026).

The business said that it has updated its earnings per share (EPS) to 81.24 US cent, "ahead of expectations".

Its EPS outlook for the full year 2026 (FY2026) has been upgraded to between 17-20% growth.

Glanbia said it saw revenue growth across all three of its business segments - Performance Nutrition (PN), Health and Nutrition (H&N), and Dairy Nutrition (DN) - due in part to strong demand in end-use markets.

Group financial performance saw revenue of $2.1 billion (compared to $1.9 billion in HY2025), an increase of 7%.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at $275.4 million (HY2025: $241.3 million), an increase of 14.1%.

The adjusted EPS of 81.24 US cent (HY2025: 63.03 US cent), is an increase of 30%.

In the Performance Nutrition part of the business, revenue on a 'like-for-like' basis grew by 16.9% to $917.2 million.

Within that, Optimum Nutrition products delivered like-for-like revenue growth of 25.2%, with Glanbia saying it continued to "navigate elevated whey costs".

The Health and Nutrition business reported revenue growth of 12% to $368.5 million, driven by demand in end-use markets.

This side of the business also saw continued progress on capacity expansion in the US, China, and Europe.

The Dairy Nutrition Business saw revenue increase to $793.7 million, with strong growth and pricing in protein solutions, which experienced sustained underlying consumer demand.

Glanbia said it ended HY2026 with net debt to adjusted EBITDA of 1.41 times, compared to 1.28 times at the end of HY2025.

The board of Glanbia is recommending an interim dividend per share of 18.92 US cent, an increase of 10% on the HY2025 figure.

The interim dividend will be paid on October 2 to shareholders on the register of members as at August 21.

Between February 25 and July 17, Glanbia purchased and cancelled approximately 4.9 million ordinary shares, representing 2% of the company’s total issued ordinary shares at the beginning of 2026, at an average price of €20.49 per share, and a total cost of approximately €100 million.

This completes the previously announced authorisation for a €100 million share buyback, Glanbia said.

Commenting on these results, Glanbia chief executive officer (CEO) Hugh 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.

"Optimum Nutrition delivered double digit volume growth in the period driven by accelerating category growth, increased distribution, ongoing innovation and the brand’s continued leadership within the category," McGuire said.

"We also generated strong volume growth across Health and Nutrition and Dairy Nutrition, with good demand in H&N’s end-use markets and strong volume and pricing growth in protein solutions within DN.

"As a protein powerhouse at the heart of better nutrition, Glanbia is uniquely positioned to meet the growing demand for nutrition that supports healthier and more active lives.

"We now expect adjusted EPS of 17% to 20% which will be driven by category and end-use consumer market demand and a strong operating performance across all three segments," the Glanbia CEO said.