)
)
Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Synlait Milk
Synlait Milk (SML) investor relations material
Synlait Milk H2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 2026 earnings summary27 Sep, 2026
Executive summary
FY26 remained financially difficult, but H2 operational stability drove a substantial recovery in EBITDA and net profit; priorities are stronger margins, cash generation, and revenue diversity.
North Island asset sale simplified operations, addressed excess capacity, and strengthened the balance sheet; focus and investment shifted to Dunsandel and Dairyworks.
Recovery roadmap spans Stabilise, Simplify, and Scale; manufactured-in-spec output improved to 93% for FY26 and 99% in August, with stronger production-plan attainment in H2.
Financial highlights
FY26 revenue was $1.94B, up 6%; reported EBITDA was NZD 8.1m, reported net loss after tax NZD 75.4m, and gross profit NZD 37.7m.
Underlying EBITDA was NZD 46.3m and underlying net loss after tax NZD 21.6m.
Reported EBITDA swung from a NZD 34.7m H1 loss to NZD 42.8m profit in H2; H2 underlying EBITDA was NZD 38.1m. NPAT shifted from an H1 loss of NZD 80.6m to H2 profit of NZD 5.2m.
Operating cash flow was negative NZD 183.3m, down 64%, mainly reflecting a working-capital build; year-end net debt was NZD 215m after asset-sale proceeds.
Costs reduced performance by NZD 39.8m and price and mix by NZD 7.3m; consumer and food-service growth contributed NZD 2.3m.
Outlook and guidance
No quantitative earnings guidance for the five-month transitional period ending 31 Dec 2026, given its short, seasonal, and non-comparable nature.
Priorities include sustaining H2 momentum, optimizing product and customer mix, improving cash generation, and advancing operational excellence and debt reduction.
New Middle East customer orders are expected to backfill 18% of lost volumes or capacity over the next 12 months, with full backfill targeted over three years; new-season milk volumes were expected 3%-6% above budget.
A strategy to scale is due in 2027; FY27 is the first full calendar year, with priorities including higher-value products, customer diversification, and Canterbury asset returns.
Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.Research faster. Power your platform.
Latest events from Synlait Milk
- North Island asset sale to Abbott and debt reduction strategy mark a pivotal reset.SML
Investor presentation - Major debt reduction, operational focus, and sustainability targets set for FY25.SMLInvestor presentation
- Net loss of $80.6 million, high debt, and asset sale drive a challenging but hopeful recovery.SMLH1 2026
- Asset sale and board changes passed with over 99% approval, targeting debt reduction and growth.SMLAGM 2025
- North Island asset sale and record FY25 results drive strategic reset and debt reduction.SMLH2 2025
- Major loss, balance sheet reset, and FY25 growth priorities with strong shareholder backing.SMLAGM 2024
- Significant losses and deleveraging efforts defined the year, with recovery hinging on milk supply.SMLH2 2024
- Profitability restored with strong EBITDA growth, reduced debt, and improved milk supply outlook.SMLH1 2025
Next Synlait Milk earnings date
AGM 20263 Dec, 2026
Synlait Milk
Next Synlait Milk earnings date
AGM 20263 Dec, 2026
AI chat
Ask anything. Verify everything.
Ask across every event and document from public companies. Each answer links back to the exact line in the transcript, slide or filing it came from.Learn moreFind what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.)
Trust every finding
50m+ first-party documents. Every output traceable to its source.Find what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.Trust every finding
50m+ first-party documents. Every output traceable to its source.Automations
Zero in on what matters
Define the prompt once. It runs the moment a company publishes or on a schedule you set. Outputs map to the exact signals you choose.Learn more)
Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.)
Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Live audio & transcripts
Be first
Join any earnings call live in one click, with no manual registration. Follow the transcript as it happens and jump straight to the moments that matter.Learn more)
Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.)
Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Quartr MCP connects your AI environment to 17K+ public companies
Pull live transcripts, filings, and slides into Claude or Codex via MCP. Combine Quartr's global IR data with any other dataset. Run agentic research and monitoring.
Included with Quartr Pro at no extra cost.Learn more
Quartr's AI stands out because it only pulls clean, first-party data from public companies. In investing, that's everything.
Jamie Ross
Investment Manager, GAM Investments
GAM
GAM
Research that used to take hours now takes seconds with Quartr Pro. Tracking shifts in tone or extracting tables, it's as simple as typing a query.
Tom O'Hara
Investment Director
Ciena
Ciena
Before Quartr we spent hours manually compiling insights through the peer earnings cycle. Now, these tasks are done faster, with greater precision.
Gregg Lampf
VP of Investor Relations
Protean
Protean
Being able to ask specific questions across years of transcripts and reports and instantly get verified answers is a game-changer.
Pontus Dackmo
CEO & Investment Manager
)
)
Frequently asked questions
Synlait Milk Limited is a New Zealand-based dairy processing company specializing in the production of milk powder, infant formula, and other value-added dairy products. The company sources milk from its network of local farms and focuses on quality control, sustainability, and innovation in processing to serve both domestic and international markets. Synlait provides ingredients for foodservice and nutrition products, catering to industries such as infant nutrition and health and wellness. The company is headquartered in Dunsandel, New Zealand, and its shares are listed on the NZX.