Mar 25 2026
Food and beverage
Recent Research
dsm-firmenich, Key takeaways from Investor Day
Mar 25 2026
Greggs plc, FY26 outlook maintained
Mar 3 2026
Meet your Food and beverage Research team
dsm-firmenich
Key takeaways from Investor Day
With its portfolio transformation complete, the emphasis shifts to growth execution. A roadmap to 2028 was presented with revenue and margin targets unchanged. The mid-point of 2028...
Ingredients
Q1 model updates – slow start to 2026 expected in an uncertain environment
Ahead of Q1 results, we update our Givaudan, Symrise and Kerry Group models. Top-line forecast changes reflect a subdued consumer environment, with the conflict in the Middle East...
dsm-firmenich
FY26 guidance in line; medium-term targets reaffirmed with phased delivery
Ahead of its Investor Event today, dsm-firmenich has outlined FY26 guidance of 2-4% organic sales growth and an adjusted EBITDA margin of around 20%, broadly in line with our...
Dole plc
Model update – well positioned in FY26 and FY27
We maintain our adjusted EBITDA forecasts for FY26 and FY27 at $422m and $450m respectively, with a recovery in Fresh Fruit and continued strength in the Diversified business...
Symrise
FY25 results modestly ahead; 2026 guide in line but slow start expected
Strong margin delivery, supported by cost savings, resulted in a 2% EBITDA beat for Symrise in 2025. Cash metrics were healthy. 2026 guidance is along expected lines, reflecting...
Food and beverage manufacturers
Private label growth: a detailed study
Private label now accounts for c.61% of total UK grocery sales by volume. What was once positioned primarily as a value lever has evolved into a central driver of retail growth as...
Greggs plc
FY26 outlook maintained
Current trading in early 2026 has been soft, with like-for-like (LFL) growth +1.6% (Visible Alpha H1-26: +2.5%). At this early stage, management has maintained its guidance for FY26 and...
Origin Enterprises
Solid H1-26 performance – crop development progressing
In the seasonally quieter first half, Origin Enterprises delivered modest EBITA growth. Profit growth across Ireland/UK and Latin America was partly offset by Central Europe. On-farm...
Dole plc
Strong finish to FY25
Dole delivered FY25 adjusted EBITDA of c.$395m, coming in above its guidance and beating consensus forecasts. Modest progress was made on balance sheet improvements, with leverage...
Glanbia
EPS 2% ahead; outlook implies another upgrade
Glanbia has delivered another positive update, delivering sector leading volume growth for its flagship brand and Ingredients platform in the second half of 2025. Guidance suggests 2026...
