EarningsQ2 2026 Earnings Report
MX:KYGAN Q2 2026 EPS Results
Actual EPS$44.03
Consensus EPS$44.32
Beat/MissMissed by -$0.29
One Year Ago EPS$43.02
MX:KYGAN Q2 2026 Revenue Results
Actual Revenue$68.62B
Expected Revenue$69.30B
Beat/MissMissed by -$680.56M
YoY Revenue Growth-3.66%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
MX:KYGAN Upcoming Earnings
Kerry Group plc's next earnings date is estimated for February 18, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive performance: broad-based volume growth with acceleration in Q2, meaningful EBITDA margin expansion (60 bps), adjusted EPS growth of 7.9% (constant currency), strong free cash flow and a healthy balance sheet with ongoing capital returns. Headwinds include notable FX translation impacts (-4.8% on revenue), a 1% drop in pricing in H1 with expected modest inflation in H2, an inventory-driven working capital build (EUR 81m), and modest European volume growth. Management maintained full-year adjusted EPS guidance of 6%–10% constant currency and emphasized continued delivery of Accelerate 2.0 efficiencies, supporting an overall constructive outlook despite currency and near-term cost dynamics.Company Guidance
Volume and Revenue Outperformance
Delivered 3.3% volume growth in H1 2026, accelerating from 3.1% in Q1 to 3.5% in Q2, outperforming end markets and channels. Regional volume strengths included Emerging Markets +5.0%, APMEA +4.9% (H1) / +5.2% (Q2), Americas +3.7% (H1) / +3.9% (Q2), and Europe showing modest growth.
EBITDA Growth and Margin Expansion
EBITDA rose to EUR 558 million with 5.8% organic EBITDA growth and group EBITDA margin expansion of 60 basis points in H1. Region margin progress included Americas +40 bps to 18.9%, Europe +80 bps, and APMEA +80 bps.
Adjusted EPS Growth and Confirmed Guidance
Adjusted earnings per share of EUR 2.141, up 7.9% on a constant currency basis (2.3% reported). Management maintained full-year adjusted EPS guidance of 6%–10% constant currency growth.
Strong Free Cash Flow and Cash Conversion
Free cash flow of EUR 262 million with average cash conversion of 76% and 85% cash conversion based on working capital movement between balance sheet dates. Company remains on track to deliver >80% cash conversion for the full year.
Solid Balance Sheet and Capital Returns
Net debt EUR 2.4 billion with a net debt-to-EBITDA ratio of 2.0x and weighted average maturity of 5.8 years. Announced interim dividend of $0.462 per share (up 10% year-on-year) and repurchased EUR 173 million of shares in the period.
Operational Efficiency — Accelerate 2.0 and Digital Initiatives
Accelerate 2.0 program contributed ~40 basis points of EBITDA margin expansion in H1 via footprint optimization and efficiency gains; net price contributed +20 bps and operating leverage/portfolio mix +10 bps. Ongoing deployment of digital initiatives across manufacturing and commercial functions.
Product Innovation and End-Market Momentum
Growth led by snacks, meat, dairy and beverages supported by innovations (Tastesense salt/sugar reduction, botanicals, natural extracts, enzymes, protein masking, natural preservation). Foodservice and retail channels both contributed, with strong seasonal launches and innovation-led renovation activity.
Targeted Capacity and Footprint Investments
Progress on strategic investments: taste capacity enhancements in North America and Mexico, proactive health capacity expansion in Spain, capacity expansion in the Middle East, and commenced footprint expansion in Turkey — supporting future growth.
MX:KYGAN 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