GrainCorp (ASX:GNC) reported Thursday fiscal first-half earnings of AU$0.021 per share, down from AU$0.261 a year earlier.

Analysts polled by FactSet expected earnings of AU$0.31.

Revenue for the six months ended March 31 was AU$3.88 billion, compared with AU$4.09 billion a year earlier. Analysts surveyed by FactSet expected AU$4.08 billion.

The agribusiness and processing company reaffirmed its fiscal 2026 guidance of underlying earnings before interest, taxes, depreciation, and amortization of AU$200 million to AU$240 million and underlying net profit after tax of between AU$20 million and AU$50 million.

The board declared an interim dividend of AU$0.14 per share, unchanged from a year earlier, payable July 16 to shareholders on record as of July 2.