Kerry Group shares fell over 5% after the Irish food ingredients company reported second-half EBITDA of €652 million, 3% below consensus forecasts, and issued 2026 constant-currency EPS guidance of 6% to 10%, slightly under analyst estimates. The company also announced a €300 million share buyback following fourth-quarter volumes that came broadly in line with expectations.

Fourth-quarter volume growth was 2.8%, matching Jefferies estimates and just below the 2.9% consensus figure. By region, volumes rose 4.4% in the Americas and 4.2% in APMEA, while Europe fell 2.6%. Pricing declined 1.3% in the quarter, reflecting input-cost deflation. The company expects 6% to 10% adjusted EPS growth on a constant-currency basis in 2026, compared with a 9% market estimate.

The Americas generated second-half revenue of €1.763 billion and EBITDA of €393 million, 2% under consensus. Europe recorded revenue of €709 million and EBITDA of €141 million, 4% under consensus. APMEA generated revenue of €823 million with EBITDA of €152 million, 1% under consensus. Foodservice volumes grew 4.6% for the year, driven by menu innovation and seasonal launches.