Chobani Inc. is projecting revenue to exceed $4.6 billion in 2026, with adjusted earnings expected to surpass $1 billion, according to people familiar with the matter. The Greek yogurt maker posted a 29% revenue jump to $3.8 billion in 2025, with adjusted EBITDA reaching $768 million, up 51% year-over-year.

To fuel this growth, Chobani plans to invest heavily in expansion, targeting $850 million to $950 million in capital expenditure. The company is expanding its Twin Falls, Idaho plant with a $500 million-plus investment and broke ground on a $1.2 billion factory near Syracuse, New York. These initiatives come as Chobani diversifies beyond yogurt into creamers, oat milk, and coffee through its ownership of La Colombe.

Chobani raised $650 million in equity capital in October and may start paying cash interest on its bonds, which currently pay in-kind. Its $700 million senior unsecured notes due in 2029 traded at 107 cents on the dollar recently. The company's aggressive expansion and projected earnings growth reflect its strategy to capitalize on rising demand across its product portfolio.