Welcome to our dedicated page for Nomad Foods news (Ticker: NOMD), a resource for investors and traders seeking the latest updates and insights on Nomad Foods stock.
Nomad Foods Limited (NYSE: NOMD) is Europe’s leading frozen food company, focused on branded frozen products such as fish, vegetables, poultry, ice cream and ready meals like pizza. The NOMD news feed on Stock Titan aggregates company announcements, press releases and market updates so investors can follow developments affecting this frozen specialty food manufacturer.
News about Nomad Foods frequently centers on its quarterly and interim financial results, where the company reports revenue trends, organic revenue growth or decline, margin performance and non-IFRS measures such as Adjusted EBITDA, Adjusted Profit and Adjusted EPS. These updates often include management commentary on factors influencing performance, including supply chain inflation, weather-related category pressure in Western Europe and changes in retailer merchandising strategies.
Investors can also track capital allocation and financing news, including announcements of quarterly cash dividends on NOMD ordinary shares and details of senior secured term loan refinancings and extensions of the company’s revolving cash facility. Such items provide insight into Nomad Foods’ approach to its balance sheet, debt maturities and cash flow deployment.
Another important category of news involves strategic and operational updates. The company has communicated multi-year efficiency programs aimed at generating operational savings, new medium-term financial targets, and updates on commercial plans such as marketing campaigns for its Birds Eye brand and innovation and renovation initiatives across its frozen portfolio. Governance and leadership items, including director appointments and CEO succession plans, are also disclosed through press releases and Form 6-K filings.
By following the NOMD news page, readers can review a continuous stream of official company communications, from earnings releases and guidance changes to dividend declarations, financing transactions and leadership announcements, all in one place.
Nomad Foods (NYSE: NOMD) reported robust financial performance for 2022, achieving record annual revenue of €2.94 billion, up 12.8% year-over-year. The company also reported an Adjusted EPS of €1.68, a rise of 8%. For Q4 2022, revenue increased 6.6% to €750 million, with an Adjusted EBITDA of €113 million. The company plans to achieve 2023 Adjusted EPS between €1.50 and €1.55, assuming mid-single-digit revenue growth. Management notes the resilience of its operating model amid challenging market conditions and highlights the strong cash flow and financial flexibility to drive future growth.
Nomad Foods Limited (NYSE: NOMD) will announce its fourth quarter and full year 2022 results on February 23, 2023, before the market opens. A conference call will follow at 8:30 AM EST, allowing participation via North American and international calls. Additionally, Nomad's CEO Stefan Descheemaeker and CFO Samy Zekhout will present at the 2023 CAGNY Conference at 4:00 PM EST on the same day in Boca Raton, FL. Access to the live call and presentation will be available on the Nomad Foods website, where a replay will also be posted for two weeks.
Nomad Foods Limited has successfully issued a USD 700 million term loan and a EUR 130 million term loan, both maturing in 2029. The proceeds will be used to repay an existing USD 960 million term loan due in 2024 and cover transaction expenses. CFO Samy Zekhout expressed confidence in the refinancing, noting the favorable terms reflect the company's solid cash flow and business model. This refinancing extends debt maturities and provides interest rate certainty through new hedging arrangements. The loans will be secured by the company and its subsidiaries.
Nomad Foods Limited (NYSE: NOMD) reported a strong Q3 2022, achieving revenue growth of 26.7% to €760 million, driven by a 7.2% organic growth and acquisitions. Adjusted EPS increased 48.6% year-on-year to €0.52. Adjusted EBITDA rose 35.3% to €153 million. The company reaffirmed its full-year Adjusted EPS guidance of €1.65 to €1.71, indicating confidence in sustained growth and profitability. Debt refinancing positions the company for favorable long-term financing, with 75% of debt fixed until 2027.
On November 8, 2022, Nomad Foods announced the pricing of two term loans: a USD 700 million loan with a SOFR rate plus 3.75%, and a EUR 130 million loan with EURIBOR plus 3.5%, both due in 2029. The company will utilize the proceeds to repay an existing USD 960 million term loan maturing in 2024 and for general corporate expenses. Closing of the loans is expected on November 10, 2022, contingent upon standard conditions. Nomad Foods is a leading frozen food company in Europe, known for its brands like Birds Eye and Findus.
Nomad Foods announced a refinancing initiative to replace its USD 960 million Term Loan B due in mid-2024 with a new USD 825 million seven-year term loan. The refinancing aims to cover the existing loan and will include meetings with lenders anticipated soon. However, the company has cautioned that there are no guarantees regarding the refinancing's completion or terms. This information is not an offer to sell or solicit securities.
Nomad Foods is a leading European frozen food company.
Nomad Foods Limited (NYSE: NOMD) reported a strong performance for Q3 2022, with revenue rising by 26.7% to €760 million and organic revenue growth of 7.2%. The gross margin improved by 110 basis points to 29.1%, and Adjusted EBITDA surged 35.3% to €153 million. The company maintained its Adjusted EPS guidance at €1.65 - €1.71 for the full year, indicating positive growth potential. With double-digit price increases implemented to counteract rising costs, Nomad Foods positions itself for sustained growth into 2023.
Nomad Foods (NYSE: NOMD) will release its third quarter 2022 results on November 9, 2022, before the NYSE market opens. A conference call with the executive management team is planned for 8:30 AM EDT the same day.
Listeners can join the call via North American dial-in at +1-844-826-3033 or international dial-in at +1-412-317-5185. The event will also be webcast on the Nomad Foods website, with a replay available for two weeks post-event.
Nomad Foods Limited (NYSE: NOMD) will participate in a fireside chat at the Barclays Global Consumer Staples Conference on September 7, 2022, at 11:15 a.m. ET in Boston, MA. Key executives attending include Stefan Descheemaeker, Samy Zekhout, and Anthony Bucalo. An audio webcast will be accessible through Nomad Foods' website. Nomad Foods is Europe's leading frozen food company, known for brands like Birds Eye and Findus.
Nomad Foods (NOMD) reported a 17.0% increase in revenue, reaching €697 million for Q2 2022, although organic revenue declined by 3.2%. The company adjusted its full-year EPS guidance to €1.65 - €1.71 from €1.71 - €1.75 due to economic challenges, including the ongoing war in Ukraine. Reported profit for the period was €75 million with an unchanged adjusted EPS of €0.40. Despite these challenges, the management remains optimistic about long-term growth, aiming for a target of €2.30 EPS by 2025.