Nomad Foods Ltd Stock Price, News & Analysis

Nomad Foods Limited (NYSE: NOMD) announced a strong finish for Q4 2020, with organic revenue growth of approximately 9.5%, exceeding prior guidance, alongside an expected adjusted EBITDA of about €119 million and adjusted EPS of €0.38 per share, a 19% increase year-over-year. For the full year 2020, organic revenue growth is estimated at 8.7% with adjusted EBITDA of €467 million. Initial guidance for 2021 forecasts 1-2% organic growth and adjusted EPS between €1.50 and €1.55, reflecting growth of 11-15%.

Nomad Foods Limited (NYSE: NOMD) announced that CEO Stefan Descheemaeker and CFO Samy Zekhout will present at the 2021 Consumer Analyst Group of New York (CAGNY) Virtual Conference on February 17, 2021, at 11:50 a.m. ET. Attendees can access a video of the presentation and slides via the company's Investor Relations section on their website.

As Europe's leading frozen foods company, Nomad Foods offers a portfolio of well-known brands, including Birds Eye and Findus, providing convenient and high-quality meals.

Nomad Foods Limited (NYSE: NOMD) announced it is in exclusive negotiations to acquire Fortenova Group’s Frozen Food Business Group (FFBG), which includes popular brands such as Ledo and Frikom. This acquisition aims to complement Nomad's strong organic growth by enhancing its frozen food portfolio across Europe. FFBG is the market leader in Southeastern Europe with a diverse product range including fish, fruits, and ready meals. While the talks are at a preliminary stage, Nomad’s strategy focuses on expanding its geographic reach and strengthening its market position.

Nomad Foods has finalized its acquisition of Findus Switzerland from Froneri International for approximately €110 million. This strategic move strengthens Nomad’s presence in the frozen food sector, expanding its market into Switzerland—a significant growth opportunity. Findus is a leading frozen food brand in Switzerland, enhancing Nomad's portfolio which includes well-known brands like Birds Eye and iglo. The acquisition is expected to provide immediate accretion to Adjusted EPS in 2021, with synergies anticipated from unifying the Findus brand.

Nomad Foods (NYSE: NOMD) reported strong fourth quarter 2020 performance, expecting organic revenue growth in the high-single digits, with a 10% increase over the first two months. Adjusted EBITDA is projected at approximately €465 million and Adjusted EPS at €1.34. The company has repurchased over $95 million in shares this quarter, totaling over $655 million year-to-date, with a 14% reduction in share count. Management remains confident in achieving long-term financial targets, including €2.30 Adjusted EPS by 2025.

Nomad Foods Limited (NYSE: NOMD) has announced an agreement to acquire Findus Switzerland from Froneri International Ltd. and certain intellectual property from Nestlé for about €110 million. This strategic acquisition aims to enhance Nomad Foods' market presence in Switzerland, a new market for the company, while unifying the ownership of the Findus brand across Europe. The deal is expected to provide commercial synergies and be immediately accretive to adjusted earnings per share. Funding will be sourced from cash on hand, with completion anticipated in early 2021.

Nomad Foods reported strong financial results for Q3 2020, with revenue increasing by 6.7% to €576 million and organic growth of 5.4%. Adjusted EBITDA rose 13% to €109 million, while adjusted EPS climbed 20% to €0.30. The company attributed this growth to elevated consumer demand for frozen foods during the pandemic. Year-to-date capital returned to shareholders approached €600 million, supporting financial flexibility for future initiatives. The company reiterated its 2020 Adjusted EBITDA guidance of over €460 million and expects continued organic revenue growth.

Nomad Foods Limited (NYSE: NOMD) announced it will host a virtual Investor Day on November 10, 2020, starting at 8:00 AM EST and concluding by 10:30 AM EST. Interested participants can register and join the event live at https://2020.nomadfoods.live. A replay will be available on the company's website afterwards at www.nomadfoods.com. Nomad Foods is Europe’s leading frozen foods company, offering iconic brands like Birds Eye and Findus.

Nomad Foods Limited (NYSE: NOMD) will report its third-quarter results for the period ending September 30, 2020, on November 5, 2020, prior to market opening. A conference call is set for 8:30 AM Eastern Daylight Time on the same day to discuss the results, with a presentation available on their website. North American participants can join by calling +1-855-327-6837, while international listeners can dial +1-631-891-4304. A replay will be accessible for two weeks post-event.

Nomad Foods is a leading frozen foods company in Europe, known for brands like Birds Eye and Findus.