Virbac Q2 2026 Results: U.S. Companion Animal Business Drives Strong H1 Growth

Global animal health leader records solid first-half sales growth, confirms full-year guidance at the upper end despite temporary manufacturing headwinds.

CARROS, France | July 29, 2026 — Virbac delivered a strong first half of 2026, reporting €768 million in revenue, representing 7.4% growth at constant exchange rates and scope (CERS) compared with the same period last year. Despite currency headwinds that limited reported growth to 4.0%, the company maintained healthy momentum across both its companion animal and farm animal businesses and reaffirmed its full-year outlook at the upper end of its guidance range.

A key highlight was the company’s continued strength in North America, where the companion animal segment offset temporary operational challenges and remained the primary growth engine. Robust demand for mobility, dental care, ear care and endocrinology products helped sustain double-digit regional growth during the first half of the year.

H1 2026 Financial Highlights

Virbac reported the following first-half results:

The company said its strategic “Supercharge” platforms continued to outperform the broader portfolio, growing by approximately 12% during the first half, while the acquisition of Thyronorm contributed 1.4 percentage points to overall growth.

U.S. Companion Animal Business Leads Growth

North America remained one of Virbac’s strongest-performing regions.

Although second-quarter regional revenue was slightly affected by a temporary regulatory product release hold related to a toll manufacturing contract and supply constraints affecting parts of the farm animal business, the company’s companion animal portfolio continued to expand strongly, increasing 9.1% at constant exchange rates during the quarter.

Growth was driven by several high-performing product categories, including:

• Mobility solutions

• Dental health products

• Ear care products

• Endocrinology therapies following the Thyronorm acquisition

Virbac noted that excluding distributor inventory movements and temporary toll manufacturing issues, the underlying organic growth in North America was approximately 10%, highlighting the resilience of customer demand.

For the first six months of 2026, North American revenue increased 10.1% at constant exchange rates, making it one of the company’s fastest-growing regions.

Balanced Performance Across Companion and Farm Animal Segments

Virbac’s growth was not limited to pets. The company reported balanced expansion across its two major business segments:

Companion Animal – The companion animal business grew 10.0%, supported by strong demand for:

• Pet nutrition

• Dental care

• Behaviour products

• Mobility solutions

• Dermatology

• Endocrinology products

• Ear care

The continued integration of Thyronorm further strengthened Virbac’s endocrinology portfolio worldwide.

Farm Animal – Farm animal sales increased 6.7%, driven by:

• Cattle vaccines

• Nutritional products

• Livestock health solutions

• Poultry products in selected markets

International markets, particularly India, the Middle East, Africa and Latin America, delivered robust contributions through cattle nutritionals, vaccines and antimicrobial products.

Regional Performance

Virbac delivered growth across all major geographic regions. Europe recorded 6.5% growth during the first half, supported by companion animal products, pet food and endocrinology solutions.

International markets expanded 7.5%, with particularly strong performances from India, the Middle East and Africa, while Latin America benefited from higher sales of cattle vaccines, antimicrobials and companion animal vaccines. Japan and China also contributed positively in Asia.

Full-Year 2026 Guidance Confirmed

Encouraged by its first-half performance, Virbac confirmed its 2026 financial guidance at the upper end of the previously announced range. Management continues to expect:

• Revenue growth of 5.5% to 7.5% at constant exchange rates and scope

• Adjusted recurring operating income margin of around 17%

• Continued healthy cash generation during the second half of the year

The company believes the strong momentum generated during the first six months positions it well to achieve these targets despite ongoing currency volatility and broader macroeconomic uncertainty.

CEO Highlights Strong Underlying Demand

Chief Executive Officer Paul Martingell said the results demonstrate resilient demand across Virbac’s portfolio despite a challenging external environment. Management highlighted:

• Balanced growth across companion and farm animal businesses

• Continued success of the Supercharge strategic platforms

• Strong execution across global markets

• Successful integration of Thyronorm

• Rapid field response to changing livestock health dynamics

These factors have reinforced confidence in the company’s long-term growth strategy.

Outlook

Virbac’s first-half performance underlines the continued strength of the global companion animal market, particularly in North America, where demand for premium pet healthcare products remains robust.

While temporary manufacturing and supply-chain issues weighed modestly on second-quarter reported sales, the underlying business continues to grow at a healthy pace. Strong momentum in companion animal healthcare, expanding endocrinology offerings and sustained demand for livestock vaccines and nutritional products position Virbac for another solid year in 2026.

For investors and the wider animal health industry, the latest results reinforce two important trends: resilient spending on companion animal health and increasing demand for value-added veterinary products across global livestock markets. Over to Idexx, Elanco and Zoetis for their earnings reports starting next week.