Farm Pride Foods (ASX:FRM): FY26 Profit Growth, Egg Pricing and Rearing Farm Build

Aditi Sarkar

23 October 2026 12:29 AM AEDT

Farm Pride Foods (ASX:FRM): FY26 Profit Growth, Egg Pricing and Rearing Farm Build

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Highlights

Farm Pride Foods (ASX:FRM) reported FY26 revenue and other income of AUD 118.3 million, compared with AUD 101.9 million.
Statutory net profit after tax rose to AUD 10.2 million, with EBITDA of AUD 19.1 million.
Operating cash flow was AUD 14.5 million, and the NAB loan drawn was AUD 12.9 million with AUD 13.8 million undrawn.
A new rearing farm in central Victoria is under construction, with first chicks expected in the second quarter of FY27.

Farm Pride Foods Limited produces, processes and sells eggs and egg products from operations in Victoria and New South Wales. The company released its financial report for the year ended 30 June 2026 in late August, showing higher revenue and profit alongside continued capital investment.

Company Business

Farm Pride traces its history to 1937 and describes its operations as running from farm to table. It sells fresh free range, barn laid and farm fresh eggs, alongside egg products such as whole egg, egg white, egg yolk, peeled boiled eggs and scrambled and fried eggs. Egg products are manufactured at the Keysborough Processing Plant in Victoria, and carton packaging forms a smaller revenue line.

For Farm Pride Foods (ASX:FRM), fresh eggs are sold through supermarkets along Australia's eastern seaboard, while egg products serve commercial customers including airline, hotel and restaurant businesses. Products are available nationwide and exported to Asia, and the company says its hens lay more than seven million eggs per week.

Recent Development

In late August 2026, Farm Pride reported FY26 results. Revenue from contracts with customers rose to AUD 117.751 million from AUD 99.623 million, and total revenue and other income was AUD 118.279 million. Statutory net profit after tax was AUD 10.196 million, compared with AUD 6.657 million, and basic earnings per share were 4.42 cents.

The Chairman said performance improved during the year. Egg pricing was firmer in the first half because avian influenza had caused shortages, then moderated in the second half as supply recovered.

Capital spending centred on a new hen rearing farm in central Victoria with capacity of 600,000 hens per year. The Chairman said the project is on time and on budget, with first chicks expected in the second quarter of FY27 and completion in the third quarter of FY27. Michael Edelstein became Chief Financial Officer on 4 May 2026.

Financial Performance and Sector Context

EBITDA rose to AUD 19.075 million from AUD 17.557 million. Shell egg revenue increased to AUD 71.006 million from AUD 56.147 million, and egg product revenue rose to AUD 42.676 million from AUD 39.238 million. Packaging revenue eased to AUD 4.069 million from AUD 4.238 million. Finance costs fell to AUD 1.104 million from AUD 3.221 million.

Operating cash flow was AUD 14.478 million, compared with AUD 9.229 million. Investing outflows increased to AUD 11.323 million as farm construction progressed, and cash and short-term deposits were AUD 8.363 million. Net assets increased to AUD 53.218 million from AUD 42.901 million.

Farm Pride Foods (ASX:FRM) had AUD 12.931 million drawn under its NAB secured facility at a floating rate of 7.13%, with AUD 13.752 million undrawn from total facilities of AUD 26.683 million. The drawn component matures on 30 April 2028, while the other components mature on 30 April 2027. The company reported compliance with all covenants. No dividend was paid, declared or recommended.

Sector conditions have been shaped by avian influenza outbreaks, which affected egg supply earlier in the year, and by the pace at which supply has since recovered. Cost inflation in feed, fuel, transport and packaging remains a variable for producers.

Risks to Consider

The company identifies H5N1 avian influenza, egg price volatility, execution of new farm construction, supplier concentration and input cost increases among its key risks. Farm Pride Foods (ASX:FRM) has a single lender, and its facilities mature in 2027 and 2028. Earnings can move when supply and pricing change, as the shift between the first and second halves of FY26 showed.

What to Watch Next

Farm Pride expects benefits from its investments to be realised progressively in FY27 and beyond. Milestones include the arrival of first chicks at the new rearing farm in the second quarter of FY27 and completion in the third quarter. The company has issued quarterly cash flow reports around the end of each quarter, including on 30 April 2026, so the next quarterly update is another reporting point. Egg pricing and facility renewals are other items to follow.

Key Insights

Farm Pride Foods (ASX:FRM) reported higher revenue, EBITDA and net profit in FY26, supported by stronger shell egg and egg product sales, lower finance costs and positive operating cash flow. Investment in a new rearing farm continues, funded in part by bank facilities, while no dividend was declared. Egg pricing, disease risk, input costs and project delivery are the main factors shaping the next reporting periods.

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