Glanbia PLC said its normalized net income for the fiscal second half ended Jan. 2 came to 26 euro cents per share, compared with the S&P Capital IQ consensus estimate of 37 cents per share.

EPS climbed 41.2% year over year from 18 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €76.7 million, an increase of 40.5% from €54.6 million in the year-earlier period.

Total revenue increased 7.9% on an annual basis to €1.34 billion from €1.24 billion, and total operating expenses grew 5.8% year over year to €1.22 billion from €1.16 billion.

Reported net income grew 34.9% on an annual basis to €84.6 million, or 29 cents per share, from €62.7 million, or 21 cents per share.

For the year, the company's normalized net income totaled 51 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 76 cents.

EPS rose 29.9% from 40 cents in the prior year.

Normalized net income was €152.5 million, an increase of 29.7% from €117.6 million in the prior year.

Full-year total revenue increased 9.3% on an annual basis to €2.77 billion from €2.54 billion, and total operating expenses grew 7.7% on an annual basis to €2.54 billion from €2.35 billion.

The company said reported net income rose 25.3% year over year to €183.3 million, or 62 cents per share, in the full year, from €146.3 million, or 49 cents per share.