On Wednesday, Deutsche Bank (ETR:DBKGn) reaffirmed its Buy rating and EUR21.00 price target on shares of Glanbia PLC (GLB:ID) (OTC: GLAPY). The firm anticipates the company to present its first-half 2024 financial results on August 14th. A slight dip in revenue is expected, with forecasts predicting a -0.7% decline to $1,823 million. This includes an anticipated organic revenue drop of -1.4%, balanced by a volume increase of 3% and a price decrease of 4.4%.
For the second quarter, the bank projects a like-for-like (LFL) revenue growth of +2.6%, driven by a 4.4% rise in volumes and a 1.8% fall in pricing. The expected group adjusted EBITDA stands at $257 million, translating to a margin of 14.1%, which marks an improvement of 150 basis points year-over-year.
The forecast for adjusted operating profit is set at $183 million, indicating a 10.1% profit margin. Additionally, Deutsche Bank estimates an adjusted earnings per share (diluted) of $0.631 and a dividend per share of $0.162. No significant alterations have been made to the full-year 2024 estimates by the firm.
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