EarningsQ4 2026 Earnings Report
MX:GNSN Q4 2026 EPS Results
Actual EPS$92.35
Consensus EPS―
Beat/Miss―
One Year Ago EPS$6.45
MX:GNSN Q4 2026 Revenue Results
Actual Revenue$7.76B
Expected Revenue―
Beat/Miss―
YoY Revenue Growth-4.13%
Earnings Announcement Details
QuarterQ4 2026
Date09/10/2026
TimeBefore Open
Conference CallThursday, September 10, 2026
MX:GNSN Upcoming Earnings
Genus plc's next earnings date is estimated for February 25, 2027, based on past reporting schedules.
Q4 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q4 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q4 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive overall. Management reported substantial adjusted profit, EPS, free cash flow, margin, leverage, and return-on-capital improvements, alongside strong PIC China and ABS performance, PRP regulatory progress, capital returns, and a moderately higher FY 2027 profit outlook. These strengths were partly offset by disease pressure in North America, weak pork and dairy market conditions, expected moderation in Brazil and lower FY 2027 free cash flow, but the stated outlook remained for resilient underlying growth.Company Guidance
Strong Adjusted Profit and EPS Growth
FY 2026 adjusted profit before tax and adjusted earnings per share both increased by 35%. Adjusted profit before tax was reported as NOK 100.2 million and adjusted earnings per share reached 110.3p, including the £5.6 million BCA milestone receipt.
Significant Free Cash Flow Generation
Free cash flow increased to £62 million from CHF 40.9 million in the prior year, representing cash conversion of 94%. The improvement reflected strong underlying trading, increased dividends from joint ventures, and lower exceptional cash payments.
Balance Sheet Strengthening and Capital Returns
Leverage reduced from 1.5x at January 2025 to 0.4x at January 2026, while net debt reduced to £71.8 million at June 30, 2026. The company announced a £60 million share buyback, expected to be completed during FY 2027, and proposed a 10% increase in the full-year dividend to 35.2p per share, representing a 32% payout ratio.
Broad-Based Group Operating Profit Growth
Group adjusted operating profit, including joint ventures, increased by 25% to £135.5 million. Group adjusted operating margin increased by 380 basis points to 17.6%, or by 350 basis points to 16.8% excluding BCA milestones in FY 2025 and FY 2026.
PIC Royalty Revenue and Profit Growth
PIC adjusted royalty revenue grew by 5% in constant currency, with every PIC region delivering growth and particularly strong contributions from Southeast Asia and joint ventures. PIC adjusted operating profit increased by 17% to NOK 130.8 million, while the adjusted operating margin increased by 33 basis points to 30.9%.
Strong China Joint Venture Performance
PIC China volumes increased by 71%, royalty revenue increased by 52%, and adjusted operating profit increased by 81% to £15.2 million for the full entity. Genus reported a £12.2 million share of PIC China adjusted operating profit, reflecting seven months of full ownership followed by five months at a 49% joint venture interest.
China Market Share Gains
PIC's estimated market share in China increased from 3.4% in FY 2025 to 5.4% in FY 2026. Management said growth was fueled by both new and existing customers, with many large customers still representing an early-stage opportunity.
Strong Agroceres Joint Venture Results
Agroceres had an extremely strong year, with adjusted operating profit increasing by 56%, partially driven by strong breeding stock sales. Genus's share of Agroceres profit increased to £19.1 million.
ABS Profit and Margin Improvement
ABS volumes increased by 2% to 8.8 million units. Adjusted operating profit increased by 17% to £22.9 million, and the margin improved from 6.3% to 7.5%, driven principally by benefits from the Value Acceleration Programme.
Value Acceleration Programme Benefits
ABS realized £9 million of VAP benefit in FY 2026, comprising £2 million from annualization of Phase 2 and £7 million of in-year Phase 3 benefits. Phase 3 exited the year at its targeted £9 million annualized run rate, while Phases 1 and 2 had delivered approximately £21 million of adjusted operating profit benefit.
Improved Return on Invested Capital
Return on adjusted invested capital improved to 18.4% from a restated 15% in FY 2025, reflecting higher profit and disciplined capital management.
PRP Regulatory Progress
Genus secured approvals or favorable determinations for its PRRS-resistant pig technology in Argentina, Canada, Uruguay, and Peru, following earlier determinations in Colombia, Brazil, the Dominican Republic, and U.S. FDA approval. Management said the Canadian approval was an important step toward North American commercialization.
Beginning of PRP Commercialization
The company is beginning the PRP commercialization process in selected Latin American countries, including Peru. Management said the initial terms are in line with the prices outlined at the Capital Markets Day, and that the process will establish supply-chain and customer foundations while generating real-world data.
Progress Toward PRP Approvals in Mexico and China
Mexico and China remain in process. In Mexico, Genus said it has satisfied all requests for information and is engaged in constructive dialogue with authorities. In China, local disease-challenge studies across multiple generations of pigs were completed successfully, putting the company in a position to prepare and submit its dossier.
Research and Development Investment
Total research and product development spend, excluding the BCA milestone, was £73 million in FY 2026, equivalent to approximately 11% of group revenue. The company also stated that it invested approximately £76 million in research and development under its capital allocation framework.
Positive Long-Term Royalty Revenue Trend
Adjusted royalty revenue, including Genus's 49% share of joint ventures, reached £197 million. The four-year compound annual growth rates were 4% in North America, 8% in Latin America, 6% in EMEA, 12% in Asia, and 12% across joint ventures.
India Contract Win for ABS
ABS secured a five-year government contract with one of the largest states in India. Management described the business as successful and profitable, said the contract had started well, and noted that production was being ramped up in India for the Sexcel contract.
Southeast Asia Growth Opportunity
Southeast Asia delivered strong performance, with very strong double-digit growth over the last two years. Growth was primarily coming from the Philippines and Vietnam, and management identified the region as an important PIC growth opportunity.
FY 2027 Underlying Profit and Cash Flow Outlook
Management expects FY 2027 underlying adjusted profit before tax in constant currency to be moderately higher year on year, in line with consensus expectations. Moderate adjusted operating profit growth is expected from both PIC and ABS, alongside another year of strong free cash flow generation.
Strategic Opportunity in PIC China and PRP
Management highlighted PIC China and the PRRS-resistant pig as two potentially transformative growth opportunities. It also stated that PIC has less than 20% global market share despite being the clear global leader in porcine genetics.
MX:GNSN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed