Applied Nutrition Shares Jump as FY26 Earnings to Beat Expectations

Applied Nutrition (LON: APN) shares rose more than 6% in early Wednesday trading after the sports nutrition group said full-year adjusted earnings and revenue are expected to come in ahead of market expectations, with the firm also issued FY27 guidance above consensus.

The company revealed that trading for the financial year ended 31 July 2026 continued to be strong, with sustained demand across its markets and channels.

Excluding contributions from the acquired trade and assets of Nutrablend in June, the board now expects FY26 adjusted EBITDA to rise 40% year on year to approximately £43.3 million, up from £30.9 million in FY25. Revenue increased 50% to £160 million, from £107 million a year earlier.

Net cash, excluding IFRS 16 liabilities, stood at £15.9 million at the close of FY26, following the Nutrablend acquisition, capital expenditure on a production extension and increased working capital to support growth.

For FY27, Applied Nutrition expects total adjusted EBITDA to grow around 13% year on year to approximately £49 million, with revenue increasing to about £205 million, both ahead of current consensus.

The group cautioned that FY27 EBITDA margin is expected to decrease slightly from FY26 levels, reflecting a higher revenue contribution from the US, significantly higher whey protein costs and a greater proportion of sales from whey-based products, partly following the relaunch of Critical Whey in FY26.

According to TradingView data, six of seven analysts rate Applied Nutrition a strong buy, with one seeing it as a hold. The group expects to release its FY26 results on or around 16 November 2026.