Bega Cheese (ASX:BGA) reported Thursday fiscal first-half normalized earnings of AU$0.171 per share, up from AU$0.118 a year earlier.

Analysts polled by FactSet expected earnings of AU$0.13.

Revenue for the six months ended Dec. 28, 2025, was AU$1.87 billion, compared with AU$1.78 billion a year earlier. Analysts surveyed by FactSet expected AU$1.82 billion.

The company raised its fiscal 2026 guidance, now expecting normalized earnings before interest, taxes, depreciation, and amortization of AU$222 million to AU$227 million, up from the previous range of AU$215 million to AU$220 million.

The board declared an interim dividend of AU$0.07 per share, up from AU$0.06 a year earlier, payable April 2 to shareholders on record as of Feb. 25.

The company's shares fell around 1% in recent Thursday trade, earlier hitting their highest level since April 2021.