Glanbia’s earnings report showed revenue grew by 2.3% to $3.9 billion (€3.3bn) while earnings dropped by 9.4% to $499.1 million (€423m) in 2025. Company CEO Hugh McGuire said that the drop in earnings was “entirely driven” by the high cost of whey during the year.
The company will pay a final dividend of €0.2567 per share, taking the total payout per share for 2025 to €0.4287. This is an increase of 10% on dividend payouts the previous year. Glanbia also announced a further €100m of share buybacks, with the first €50m tranche of that starting today, 25 February.
The company bought back €197m of its own shares in 2025, with that total driven by Glanbia’s participation in the share placement by Tirlán, where the co-op placed 17 million shares on the market to repay a bond.
The company gave earnings guidance in line with its medium-term targets. McGuire said: “In line with our new medium-term guidance, we expect adjusted EPS growth of 7% to 11% constant currency in 2026, which will be driven by category and end-use market demand and a strong operating performance across all three segments.”
The company reported a loss on disposal of SlimFast and Body & Fit operations of $45.7m (€38.8m) and a non-cash impairment of $16.5m (€14m) on the consumer LevlUp business in which Glanbia purchased a 60% stake in 2021 for €39m.
Glanbia had flagged the increased whey costs to investors throughout 2025, meaning the drop in earnings did not come as a surprise to investors. The company’s share price was little changed at €16.52 in the immediate wake of the earnings announcement.
See this week’s Irish farmers Journal for more analysis and an interview with Glanbia CEO Hugh McGuire.
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