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Investing.com -- Shares of Glanbia PLC (ISE:GLB) rose 9.68% following the company’s first-quarter earnings release, which revealed a performance in line with expectations and a reiteration of its full-year guidance.
The company reported a 7.2% increase in group revenue, with 2.7% attributed to acquisitions.
Despite a 6.6% decline in Performance Nutrition revenue, largely due to lower US club and specialty channel sales, this was offset by growth in online, food, drug, and mass channels, as well as international markets.
Health & Nutrition segment revenue soared by 24.9%, bolstered by the acquisition of Flavor Producers and robust volume growth. D
airy Nutrition also saw an 18.9% revenue increase, driven by strong demand for protein solutions and favorable dairy market pricing. Additionally, Glanbia is progressing with a €50 million share buyback program, having repurchased €42.7 million worth of shares to date.
CEO Hugh McGuire commented on the company’s resilience amid macroeconomic volatility and specific headwinds in the Performance Nutrition division.
McGuire highlighted the strong performance of the Health & Nutrition and Dairy Nutrition segments and noted the company’s efforts to mitigate input cost inflation and progress in its transformation program aimed at driving efficiencies and growth.
For the remainder of the year, Glanbia maintains its adjusted EPS guidance for 2025 in the range of 124 to 130 $cent, which reflects a constant currency decrease of 11% to 7%.
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