Nomad Foods Ltd. ( (NOMD) ) has released its Q3 earnings. Here is a breakdown of the information Nomad Foods Ltd. presented to its investors.
Nomad Foods Limited is a leading European company specializing in frozen food products, known for its iconic brands like Birds Eye, Findus, and iglo, which offer high-quality, nutritious meals that are both convenient and delicious. In its latest earnings report for the third quarter of 2024, Nomad Foods demonstrated resilience with a slight revenue increase of 0.8% to €770 million and a significant adjusted EPS growth of 28% year-over-year to €0.55, despite facing temporary ERP disruptions. The company also achieved a record-high gross margin of 32.3%, attributed to strategic investments and productivity enhancements. Key performance indicators highlighted include a 19% increase in adjusted EBITDA to €166 million and a 22% rise in adjusted profit to €89 million, driven by favorable volume growth and effective margin management. However, the company has revised its full-year 2024 guidance downward due to the ERP challenges, now anticipating organic revenue growth of 1%-2% and adjusted EBITDA growth of 3%-5%. Looking forward, Nomad Foods remains optimistic about its innovation and marketing initiatives, which are expected to sustain the positive trends in volume growth and market share recovery in the upcoming quarters.
