30th Apr 2026 11:52
(Alliance News) - Kerry Group PLC on Thursday hailed a "market outperformance" in the first quarter of the year, though it noted the wider food and beverage space "remained subdued".
The provider of nutrition products firm affirmed its annual guidance, expected constant currency adjusted earnings per share growth between 6% and 10% in 2026. Adjusted EPS in 2025 totalled 481.5 euro cents, climbed 7.5% at constant currency.
The company, based in Tralee, County Kerry in Ireland, said volumes grew 3.1% on-year in the first quarter. It labelled this a "strong market outperformance".
"Overall food and beverage end market volumes remained subdued through the first quarter with a high level of market uncertainty given the macroeconomic backdrop," Kerry said.
Pricing, however, was 1.3% weaker, "reflecting overall input cost deflation in the quarter". It also noted a foreign exchange hit of 7.9%, stemming from a weaker dollar against the euro. All-in-all, it meant reported revenue was 7.3% lower on-year in the first quarter.
The earnings before interest, tax, depreciation and amortisation margin expanded by 60 basis points, Kerry said.
The firm added: "Kerry's continued strong end market outperformance highlights the strength and relevance of its strategic positioning across its markets, channels and customer base. The group will continue to further advance its strategic business development, while supporting its customers as their innovation and renovation partner.
"While recognising the uncertainty around the ongoing geopolitical volatility, Kerry remains strongly positioned for volume growth and margin expansion, supported by a good innovation pipeline."
Kerry shares shot up 4.3% to EUR73.10 each in London late on Thursday morning.
By Eric Cunha, Alliance News news editor
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