Nov 22 2022
Food and beverage
Recent Research
Glanbia, Building on core strengths
Nov 10 2022
Glanbia, New three-year targets launched
Nov 9 2022
Meet your Food and beverage Research team
Cranswick plc
Good start to the year against a challenging backdrop; full-year guidance reiterated
Cranswick has delivered a resilient H1 performance, with double-digit top-line growth and modestly lower operating profit (c.3% higher adjusting for non-recurring items). Q2 implied growth...
Origin Enterprises
Strong start to the year prompts 4% EPS upgrade
Origin’s Q1 statement confirms a strong start to the year. An early harvest and favourable on-farm sentiment helped underpin mid- to high-single-digit volume growth (off an elevated...
Glanbia
BellRing Brands Q4 results – FY23 guidance offers modest profit upside
BellRing reported FY22 results after close on November 17th. Q4 revenue growth of 11.5% was supported by ongoing significant pricing across both Premier Protein and Dymatize brands –...
Dole plc
Q3 results modestly ahead; FY22 EBITDA guidance moved to lower end of range
Dole’s Q3 EBITDA print was modestly ahead of expectations, underpinned by a strong performance in the North American banana business. On an underlying basis, Diversified Europe profits...
Glanbia
Building on core strengths
When we think of Glanbia’s evolution since its last Capital Markets Day (CMD), it is clear that the organisation has made fundamental changes as to how it operates. It has enhanced its...
Ingredients
IFF Q3 results – outlook dampened by tougher operating environment
IFF reported Q3 results on November 7th. Q3 organic revenue growth of +10% was buttressed by ongoing price increases, with volumes declining modestly. Market conditions have become...
Associated British Foods
Small beat on FY22; FY23 guidance reiterated; £500m share buyback announced
Associated British Foods’ (ABF) FY 2022 print was modestly ahead of our expectations, with a strong profit rebound driven by more normalised trading conditions at Primark. Of more...
Glanbia
Reassuring update as ON brand execution continues
Glanbia’s IMS confirms that Glanbia Performance Nutrition’s (GPN) organic growth momentum was sustained through Q3, led by the Optimum Nutrition (ON) brand family. Despite a record...
Danone
Reassuring update: growth supported by strong pricing
An uplift to FY22 revenue guidance primarily reflects Danone’s ongoing pricing activity and limited evidence of elasticity (in aggregate). The conference call shed limited light on 2023...
Ingredients
Corbion Q3 results – continued growth driven by pricing
Corbion’s Q3 update reflects continued growth across its core business activities, driven by ongoing price increases in its Food Solutions and Lactic Acid platforms. The third quarter...
