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Nomad Foods Limited - NOMD STOCK NEWS

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, employing approximately 8,000 people across 22 markets and operating 19 factories. Headquartered in the United Kingdom, Nomad Foods is renowned for its portfolio of iconic brands including Birds Eye, Findus, iglo, Aunt Bessie's, and Goodfella's, which have been a staple in households for generations, offering great tasting, convenient, high-quality, and nutritious food.

The company specializes in the manufacturing and distribution of branded frozen foods across Western Europe, including categories such as fish, vegetables, poultry, ice cream, and ready meals. In the UK and Ireland, its products are sold under the Birds Eye brand, while in Italy, France, Spain, and Scandinavia, they are known under the Findus brand, and in Germany and other continental markets, under the Iglo brand.

Nomad Foods operates through a single segment, 'Frozen', with the majority of its revenue generated from the United Kingdom. The company continues to focus on growth through strategic investments, product innovation, and operational excellence.

Recent Achievements and Financial Performance

  • On September 18, 2023, Nomad Foods announced the repricing of its USD 700 million Term Loan B, expected to result in approximately €5 million of annual cash interest savings.
  • For the nine months ended September 30, 2023, the company raised its Adjusted EPS guidance range to €1.57 to €1.60, reflecting its strong operational performance and strategic investments.
  • On February 2, 2024, the company successfully repriced its EUR 130 million Term Loan B, leading to additional annual cash interest savings.
  • Nomad Foods reported a solid start to 2024 with sequential improvement in volumes and market share, maintaining its full-year revenue growth guidance of 3%-4% and Adjusted EPS of €1.75-€1.80.

Strategic Initiatives

  • Implementation of a quarterly dividend starting in 2024, subject to board approval, underscoring the company’s commitment to shareholder returns.
  • Ongoing share repurchase programs, including a new $500 million authorization replacing the previous one expiring at the end of 2023.
  • Continued focus on innovation and marketing investments, enhancing brand strength and market presence.

Nomad Foods remains well-positioned for long-term growth, leveraging its strong brand portfolio, robust supply chain, and commitment to operational efficiency. For more information, visit www.nomadfoods.com.

Rhea-AI Summary

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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Nomad Foods Limited (NYSE: NOMD) is set to report its second-quarter results for the period ending June 30, 2022, before the market opens on August 10, 2022. A conference call with the executive management team will begin at 8:30 AM EDT on the same day, where they will discuss the results in detail. North American listeners can dial +1-877-300-8521, while international participants can call +1-412-317-6026. The call will also be available via webcast on the company’s website, with a replay accessible for two weeks.

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Nomad Foods Limited (NYSE: NOMD) will participate in a fireside chat at the 19th Annual dbAccess Global Consumer Conference in Paris on June 15, 2022, at 10:45 a.m. ET. CEO Stefan Descheemaeker and CFO Samy Zekhout will lead the discussion. The event will be webcasted live on the company’s website, enhancing accessibility for investors and stakeholders. Nomad Foods is Europe's leading frozen food company, boasting iconic brands like Birds Eye and Findus, known for their convenient and nutritious offerings.

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FAQ

What is the current stock price of Nomad Foods (NOMD)?

The current stock price of Nomad Foods (NOMD) is $17.67 as of February 4, 2025.

What is the market cap of Nomad Foods (NOMD)?

The market cap of Nomad Foods (NOMD) is approximately 2.9B.

What does Nomad Foods Limited do?

Nomad Foods Limited is a leading frozen food company in Europe, manufacturing and distributing branded frozen foods such as fish, vegetables, poultry, ice cream, and ready meals.

What are some of the core brands of Nomad Foods?

Some of the core brands include Birds Eye, Findus, iglo, Aunt Bessie's, and Goodfella's.

Where is Nomad Foods Limited headquartered?

Nomad Foods Limited is headquartered in the United Kingdom.

How many employees does Nomad Foods have?

Nomad Foods employs approximately 8,000 people across 22 markets.

What recent financial achievements has Nomad Foods made?

Recent achievements include the repricing of a USD 700 million Term Loan B, expected to save €5 million annually, and the repricing of a EUR 130 million Term Loan B, leading to further cash interest savings.

What is the company's revenue guidance for 2024?

The company expects organic revenue growth of 3%-4% for the full year 2024.

Does Nomad Foods plan to issue dividends?

Yes, Nomad Foods intends to initiate a quarterly dividend in 2024, subject to board approval.

What is the focus of Nomad Foods' strategic initiatives?

The strategic initiatives focus on product innovation, marketing investments, operational efficiency, and shareholder returns through dividends and share repurchase programs.

How does Nomad Foods distribute its products?

Nomad Foods distributes its products primarily through large grocery retailers under various brand names such as Birds Eye, Findus, and Iglo.

How has Nomad Foods performed in recent financial quarters?

Nomad Foods has shown strong operational performance, with improved volume and market share trends, maintaining its full-year guidance for revenue and EPS growth.
Nomad Foods Limited

NYSE:NOMD

NOMD Rankings

NOMD Stock Data

2.86B
132.10M
17.63%
78.06%
1.05%
Packaged Foods
Consumer Defensive
Link
United States of America
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