Food technology and ingredients company Kerry Group said today it is keeping its constant currency adjusted earnings per share guidance of 6% to 10% growth for 2026.
In a trading update for the first quarter of 2026, the company said that while recognising the uncertainty around the ongoing geopolitical volatility, it remains strongly positioned for volume growth and margin expansion, supported by a good innovation pipeline.
Kerry today reported volume growth of 3.1% for the first three months of the year, which it described as a strong market outperformance.
It noted that overall food and beverage end market volumes remained subdued during the first quarter with a high level of market uncertainty given the macroeconomic backdrop.
"Kerry's volume growth in the period remained significantly ahead of food and beverage end markets, driven by good innovation activity in the foodservice channel and continued product renovation activity in the retail channel," the company said.
"This growth was achieved across a broad range of technologies, including savoury taste, Tastesense salt and sugar reduction technologies, botanicals, natural extracts, taste solutions for high-protein applications, enzymes and bio-fermented ingredients," it added.
Edmond Scanlon, Kerry's chief executive, said the volume growth achieved in the first quarter was driven by continued strong growth and market outperformance in the Americas, with good growth in APMEA and a solid performance in Europe.
"We continued to deliver strong EBITDA margin expansion in the period, led by efficiencies delivered through our Accelerate 2.0 programme," the CEO said.
"Our extensive local footprint, unique technology capability, and the strength of our business model positions us well to navigate through this period of geopolitical and macroeconomic uncertainty, as we proactively support our customers as their innovation and renovation partner," he said.
"While recognising the uncertainty around the ongoing geopolitical volatility, our business remains strongly positioned for volume growth and margin expansion," he added.
Kerry holds its AGM today.
As previously announced, Tom Moran will retire as Chair and as a director of Kerry at the conclusion of the AGM and will be succeeded by Fiona Dawson.
Patrick Rohan, having served his three-year term of appointment, will also retire from the board at the conclusion of the 2026 AGM and will not seek re-election.
Kerry shares jumped in Dublin trade today.
