Fonterra Co-operative Group Limited (NS) Shares
FCG.NZXConsumer Staples
Fonterra Co-operative Group Limited (NS) (Fonterra) is a dairy co-operative, owned and supplied by nearly 9,000 farming families in Aotearoa, New Zealand. Through the spirit of co-operation and a can-do attitude, Fonterra’s farmers, along with 20,000 employees around the world, share the goodness of our milk through innovative consumer, foodservice and ingredient brands. Sustainability is at the heart of everything we do, and we’re committed to leaving things in a better way than we found them. Everyday people working hard to be Good Together in the community. The Fonterra Shareholders' Fund (FSF) is a registered managed investment scheme under the Financial Markets Conduct Act 2013. The FSF provides investors an opportunity to invest in the performance of Fonterra. Outside investors who are not allowed to hold shares in Fonterra can invest in units in the FSF which gives them access to economic rights (such as distributions and capital movements), similar to those of a share.
Market Data
$4.450
0.0%$7.2B
10.0x
$0.446
15.83%
+0.4%
Latest Earnings
Fonterra announces Q3 result and F27 Farmgate Milk Price
28 May 2026
Fonterra reported a strong Q3 FY26 result with year-to-date Total Group operating profit of NZ$1.8 billion, up NZ$103 million on the prior year, driven by strong Foodservice performance and robust protein demand in Ingredients. Underlying EPS rose to 57 cents (from 53 cents), reflecting continuing operations adjusted for the completed Mainland Group divestment, with NZ$3.2 billion returned to shareholders. FY26 full-year underlying earnings guidance was lifted and narrowed to 60-70 cents per share (from 50-65 cents), and the opening 2026/27 Farmgate Milk Price was set at NZ$9.75 per kgMS. Key points: Total Group YTD operating profit up NZ$103 million to NZ$1.8 billion, with underlying EPS rising to 57 cents from 53 cents on continuing operations.; FY26 full-year underlying earnings guidance lifted and narrowed to 60-70 cents per share (from 50-65 cents), reflecting strong contracted sales position and highest Q3 shipment volumes in a decade.; Foodservice underlying operating profit surged NZ$304 million (+143%) to NZ$516 million, driven by pricing, product mix improvements and easing input costs.
Recent Announcements
Fonterra announces Q3 result and F27 Farmgate Milk Price
Fonterra reported a strong Q3 FY26 result with year-to-date Total Group operating profit of NZ$1.8 billion, up NZ$103 million on the prior year, driven by strong Foodservice performance and robust protein demand in Ingredients. Underlying EPS rose to 57 cents (from 53 cents), reflecting continuing operations adjusted for the completed Mainland Group divestment, with NZ$3.2 billion returned to shareholders. FY26 full-year underlying earnings guidance was lifted and narrowed to 60-70 cents per share (from 50-65 cents), and the opening 2026/27 Farmgate Milk Price was set at NZ$9.75 per kgMS. Key points: Total Group YTD operating profit up NZ$103 million to NZ$1.8 billion, with underlying EPS rising to 57 cents from 53 cents on continuing operations.; FY26 full-year underlying earnings guidance lifted and narrowed to 60-70 cents per share (from 50-65 cents), reflecting strong contracted sales position and highest Q3 shipment volumes in a decade.; Foodservice underlying operating profit surged NZ$304 million (+143%) to NZ$516 million, driven by pricing, product mix improvements and easing input costs.
Fonterra provides update on ratings agency arrangements
Fonterra Co-operative Group has announced it will cease its engagement with credit rating agency Fitch Ratings (currently rated A stable) effective June 1, 2026, while maintaining its S&P Global Ratings (A- stable) rating as part of its strategy to operate as a simpler business.
Northington Partners Independent Report
Fonterra delivered a solid 1H26 result with EBIT from pro forma continuing operations up 2% to $932m, driven by favourable product mix and resilient global demand for high-value dairy products, despite headwinds from higher ERP system costs and increased energy and freight expenses. A significant channel shift saw Foodservice EBIT surge 75% to $372m while Ingredients EBIT fell 26% to $560m, reflecting divergent protein vs fat milk cost dynamics. Fonterra upgraded its FY26 EPS guidance midpoint by ~5% to 50-65 cents per share and completed the $4.22b sale of Mainland Group to Lactalis, returning $2.00 per share to shareholders. Key points: EBIT from pro forma continuing operations increased 2% to $932m, demonstrating earnings resilience despite channel headwinds and elevated ERP costs of $79m; Foodservice EBIT surged $200m (+116%) to $372m, driven by improved product pricing and flat fat-weighted milk costs boosting Core Operations profitability by $199m; Total dividend of 40 cents per share declared (24c interim + 16c special Mainland dividend), up 82% on 1H25, with both fully imputed
Monthly Allotment / Redemption Notice
The Fonterra Shareholders' Fund reported zero allotments and zero redemptions of FSF units during April 2026, with the total number of units in existence remaining unchanged at 107,410,984 as of 30 April 2026.
Global Dairy Update April 2026
This is a Global Dairy Update from April 2026 containing market analysis and operational updates from Fonterra Co-operative Group Ltd, including dairy production, export, and import data across major regions, announcement of Richard Allen as new CEO (effective May 1, 2026), and details about the Fonterra & ASB First Farm Award supporting farmer ownership.
Fonterra announces interim leadership changes
Fonterra Co-operative Group Ltd announced interim leadership changes to its Global Ingredients business, with Elisa Giusti assuming the role of President Global Ingredients Growth and Gaby Amade becoming President Global Ingredients Sales and Operations, ahead of Richard Allen's transition to CEO on May 1, 2026.
D&O Ongoing Disclosure Notice – A Macfarlane
Andrew Webster Macfarlane, a retired director of Fonterra Co-operative Group Limited (ceased December 2025), purchased 30,000 Fonterra shares on-market through Pencarrow Farm Limited on April 2-7, 2026, increasing his holding in that entity from 430,000 to 460,000 shares at prices of NZD 6.03-6.10 per share.
Fonterra names Richard Allen as new CEO
Fonterra Co-operative Group Ltd has appointed Richard Allen as its next Chief Executive Officer, effective May 1, 2026, succeeding Miles Hurrell who will remain in an advisory role until September 2026. Allen, who joined Fonterra in 2008, has held various senior leadership positions including President Global Ingredients and previously led the farmer-facing Farm Source business.
Fonterra confirms implementation of capital return
Fonterra Co-operative Group Limited completed a $3.2 billion capital return to shareholders on 10 April 2026 through a Court-approved scheme, involving the repurchase and cancellation of approximately 536.4 million shares (33.33% of total shares) at $6.00 per share, with payments processed on 14 April 2026.
D&O Ongoing Disclosure Notice – A Macfarlane
Andrew Webster Macfarlane, a retired director of Fonterra Co-operative Group Limited (ceased 11 December 2025), acquired 50,000 Fonterra shares on 31 March 2026 at NZD 6.17 per share through on-market purchase by Pencarrow Farm Limited, increasing holdings in that entity from 380,000 to 430,000 shares.
Get real-time alerts for FCG
Receive AI-powered earnings summaries and instant notifications when Fonterra Co-operative Group Limited (NS) Shares releases results.
Register Free