UK's Nomad Foods Q3 revenue rises 2.3%, guidance reiterated

Overview

• Europe frozen food maker's Q3 revenue rose 2.3% yr/yr, organic revenue up 1.6%

• Adjusted EPS for Q3 fell 4.1% yr/yr

• Company reiterated 2026 guidance and 2027 targets

Outlook

• Nomad Foods maintains 2026 guidance for organic revenue to decline 2%-3%

• Company expects 2026 Adjusted EBITDA to decline 5%-10%

• Nomad Foods sees 2026 Adjusted EPS at EUR 1.38-1.53

Result Drivers

• PRICE-MIX - Co said Q3 organic revenue growth was driven by positive price-mix contribution

• EXECUTION IMPROVEMENTS - Co attributed improving business momentum to strengthened execution and organizational changes, per CEO Dominic Brisby

• PRODUCTIVITY SAVINGS - Co said productivity savings offset most of the increase in incentive compensation in Q3

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 7 three months ago

Reuters Recommended Reads

• Nov 3 - UK's Associated British Foods FY revenue, profit beat estimates

• Nov 4 - Canada's Maple Leaf Foods misses Q3 revenue estimates; backs FY rev view

• Nov 4 - Sweden's Cloetta Q3 net sales rise; hits mid-term profit target ahead of schedule

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)