NOMD

This article first appeared on GuruFocus. Release Date: August 13, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Successfully executed pricing and productivity initiatives, driving a 3% contribution to organic revenue growth from price/mix and a 110 basis points improvement in adjusted gross margin. Resolved retailer disputes in Germany and France, with shelves replenished, promotional plans restored, and market share trends already improving. Strengthened the organization by finalizing executive team appointments and restructuring the marketing function to reduce nonworking A&P spend and increase local market accountability. Benefited from strong European frozen food category growth, with retail value sales up 2.9% and volume up 1.2% in the most recent 12-week period. Maintained strong cash generation with adjusted free cash flow conversion improving to 49% in the first half, supporting dividend payments and debt reduction. Refinanced EUR800 million of notes to extend debt maturity profile to 2032, enhancing financial flexibility and reducing near-term refinancing risk. Organic revenue declined 2.9% in the quarter, with volume down 5.9% due to retailer disruptions and consumer elasticity pressures. Market share declined, with value share down 90 basis points and volume share down 75 basis points in the most recent 12-week period. Adjusted EBITDA declined 4.3% in the quarter, impacted by a more than 7% headwind from bonus normalization. Adjusted EPS outlook was reduced to EUR1.38-EUR1.53 from EUR1.47-EUR1.62 due to higher interest expense from refinancing and variable rates. Inflation is expected to finish towards the higher end of the mid-single-digit range, with most impact in Q4 where hedge coverage is lower. Near-term volume trends remain uncertain as competitors respond to pricing actions, with the full benefit of additional pricing expected only in 2027. Warning! GuruFocus has detected 5 Warning Signs with NOMD. Is NOMD fairly valued? Test your thesis with our free DCF calculator. Q: What were the key drivers behind Nomad Foods' second-quarter 2026 results, and how did they align with expectations?A: CEO Dominic Brisby stated that Q2 results came in modestly ahead of expectations, driven by successful pricing and productivity initiatives. Price/mix contributed 3% to organic revenue growth, and productivity programs offset a significant portion of input cost inflation, leading to a 110 basis point improvement in adjusted gross margin. The quarter also marked the resolution of key retailer disputes in Germany and France, which had previously weighed on performance. Q: How did the company resolve the retailer disputes that impacted earlier performance, and what is the expected recovery trajectory?A: CEO Dominic Brisby explained that the retailer disputes, which caused out-of-stocks and reduced promotional activity, were largely resolved by the end of Q2. Shelves have been replenished, promotional plans are being restored, and market share trends are already improving. The company expects this recovery to continue through the second half of the year. Q: What is the company's strategy regarding pricing and inflation management for the remainder of 2026 and into 2027?A: CFO Ruben Baldew noted that the company is pricing below inflation, with productivity funding the difference, a shift from the peak inflation period of 2022-23. Inflation is expected to finish towards the higher end of the mid-single-digit range, with most of the increase in Q4. The company plans to take additional pricing actions by the end of this year, with the main benefits expected to materialize in 2027, as competitors have begun responding to their pricing. Q: Can you provide details on the company's capital allocation priorities and the recent refinancing transaction?A: CFO Ruben Baldew stated that share repurchases were suspended to prioritize reducing net debt and leverage. In July, the company refinanced EUR800 million of notes, extending its maturity profile with no meaningful debt due until 2032. The transaction was leverage neutral and increased the size of the revolver credit facility, enhancing financial flexibility and reducing interest expense over time. Q: How did the company's adjusted EPS outlook change, and what factors drove this revision?A: CFO Ruben Baldew revised the adjusted EPS outlook to EUR1.38 to EUR1.53, down from EUR1.47 to EUR1.62. This change is entirely attributable to higher interest expense from the refinancing and higher variable rates, with no change to the operating outlook. The company expects to offset much of this impact through continued debt reduction and lower leverage over time. Q: What are the current trends in the frozen food category, and how is Nomad Foods positioned to capitalize on them?A: CEO Dominic Brisby highlighted that the frozen food category remains well-positioned, with retail value sales up 2.9% and volume growth of 1.2% in the most recent 12-week period. Growth is broad-based across categories and geographies, including frozen fish, vegetables, meals, poultry, and pizza. Despite this, Nomad Foods' market share declined due to the commercial disruptions, but the company is taking actions to improve competitiveness and accelerate growth. Q: What specific product innovations and renovations are being introduced to drive growth?A: CEO Dominic Brisby mentioned a robust pipeline of innovation, including upgraded coatings on fish fingers for enhanced crunchiness, high-protein spinach products in Germany, expanded chicken offerings in the UK, new seafood and meal innovations, and continued expansion of the pizza and ice cream portfolios. These initiatives reflect a broader shift towards innovation and stronger consumer relevance. Q: How is the company addressing its organizational structure and marketing efficiency?A: CEO Dominic Brisby noted that the executive team has been strengthened, with half of the direct leadership team being new to the organization. The marketing organization was restructured to reduce complexity and nonworking A&P spend, shifting accountability closer to local markets. This allows for more resources to be deployed directly behind consumers, brands, and growth opportunities. Q: What is the company's full-year 2026 guidance, and what are the key uncertainties?A: CFO Ruben Baldew reaffirmed guidance for organic revenue to decline between 2% and 5% and constant currency adjusted EBITDA to decline between 5% and 10%. The company remains mindful of uncertainty around consumer elasticity following pricing actions and the competitive response. Inflation is expected to be towards the higher end of the mid-single-digit range, with most of the increase in Q4. Q: How does the company plan to leverage its competitive advantages for long-term value creation?A: CEO Dominic Brisby outlined a comprehensive multiyear value creation plan, leveraging iconic brands, a scaled pan-European supply chain, deep customer relationships, and improving commercial capabilities. The company sees meaningful opportunities to drive growth across categories, channels, geographies, and consumers, and plans to share the full plan at its Analyst and Investor Day in New York this fall. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management attributes recent market share headwinds primarily to retail disruptions in Germany and France, which are now considered fully resolved. Performance is being supported by robust category health, with frozen food markets showing 3.4% value growth and 1.6% volume growth year-to-date. The company is leveraging a EUR 200 million productivity program to fund competitive pricing and prevent further expansion of the price index relative to competitors. Gross margin recovery is being driven by the successful implementation of pricing actions, particularly in the fish category where inflation remains most persistent. Strategic leadership changes and a restructuring of the marketing function are being implemented to shift corporate culture and improve market competitiveness. Management highlights that private label competitors have recently begun significant price increases, ranging from 20% to 32% across key European markets, which improves the company's relative value proposition. The company expects improved sales and market share performance in the second half of the year, though reaching market share neutrality is expected to take more time. Management plans to take additional cost-justified price increases in the fourth quarter, specifically targeting fish-based products to offset ongoing protein inflation. Capital allocation will pivot toward deleveraging and reducing interest costs, resulting in a temporary suspension of share buybacks while maintaining dividend payments. A comprehensive value creation plan covering innovation, marketing, and sales execution will be formally unveiled at the Analyst Day in October. Management noted that recent price increases by private label competitors have allowed Nomad to slightly lower its own price index, though they remain prudent regarding elasticity assumptions in their full-year guidance. A factory closure and marketing function restructuring were initiated in Q2 as part of the broader EUR 200 million productivity initiative. Non-recurring spend has trended downward as the company shifts focus toward execution of the productivity program. Q2 gross margin included a couple of million euros in phasing of A&P and overheads, along with EUR 1 million to EUR 2 million in technical variances related to recipe changes. Management noted that while water shortages are a macro concern, they have not yet directly impacted supply chains or the current harvest. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management expects share performance to improve in H2 now that retail disruptions are resolved, but cautioned that returning to neutrality will be a gradual process. The company is encouraged by private label price hikes (20-30% in some regions), which provides room for Nomad to improve its price competitiveness. The EUR 200 million productivity program is on track and is being used to offset inflation rather than relying solely on aggressive pricing. This strategy has allowed the company's price index to actually decrease slightly, improving its competitive position against private labels. Management declined to provide a specific target leverage ratio ahead of the October Analyst Day. Confirmed a strategic shift to prioritize debt repayment over share buybacks to lower interest expense in the current environment. Dominic Brisby noted that while brand equity remains strong, significant leadership changes were necessary to improve organizational agility. The focus for the next six months is the execution of a new 'value creation plan' that addresses historical gaps in innovation and sales execution.

Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide. Nomad Foods (NOMD) is back in focus after its second quarter 2026 earnings release, which showed lower reported sales and earnings per share, along with updated full year guidance tied to higher interest expenses. See our latest analysis for Nomad Foods. Nomad Foods shares have reacted positively to the Q2 2026 update, with a 1 day share price return of 5.61% and a 90 day share price return of 22.86%. However, the 1 year total shareholder return is still down 14.82%, which points to some recent momentum but a weaker longer term experience for investors. If this earnings move has you thinking about other opportunities, it could be a useful moment to widen your search with 20 top founder-led companies Bulls see Nomad Foods as a recovering frozen food leader, while bears focus on weaker guidance and higher interest costs. After the post earnings jump, which case appears closer to fair value based on the numbers as they stand today? The most followed narrative currently pegs Nomad Foods at a fair value of $12.87, slightly above the last close of $12.04. This frames the latest price move in the context of a modest valuation gap. Read the complete narrative. Want to see what sits behind that fair value for Nomad Foods? The narrative leans heavily on steadier top line trends, fatter margins, and a lower future earnings multiple than many peers. Curious which mix of revenue stability, profitability shift, and capital return assumptions gets the model to that number. Result: Fair Value of $12.87 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, Nomad Foods still carries clear pressure points, including recent operational missteps and inflation driven input costs that could undermine the current undervalued narrative if they persist. Find out about the key risks to this Nomad Foods narrative. Given the mixed mood around Nomad Foods right now, it makes sense to look at both sides of the story yourself and act while the numbers are fresh. To see the balance between the concerns and the potential upside in one place, start with 2 key rewards and 3 important warning signs If Nomad Foods has sharpened your focus, do not stop here. Broaden your watchlist now with fresh stock ideas that fit different portfolio goals. Target dependable value by scanning companies that combine quality fundamentals with attractive pricing using the 51 high quality undervalued stocks. Protect your downside by focusing on businesses with sturdier profiles through the 88 resilient stocks with low risk scores. Spot potential future leaders before they become widely followed by checking the screener containing 18 high quality undiscovered gems. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NOMD. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Interested in Nomad Foods Limited? Here are five stocks we like better. Revenue and volumes declined: Organic revenue fell 2.9% and volume dropped 5.9%, mainly because retailer disputes caused out-of-stocks and reduced promotions in Germany and France. Nomad said shelves are being replenished and market-share trends are beginning to improve. Margins benefited from pricing and productivity: Adjusted gross margin expanded 110 basis points, while productivity initiatives offset more than 60% of inflation year to date. However, adjusted EBITDA declined 4.3% and adjusted EPS fell slightly to EUR 0.39. Outlook was largely maintained but EPS was cut: Nomad reaffirmed its full-year revenue and EBITDA decline forecasts but lowered adjusted EPS guidance to EUR 1.38–EUR 1.53 because of higher interest costs following its debt refinancing. The company is prioritizing debt reduction and extended its debt maturities, with no meaningful maturities until 2032. 3 Underfollowed Stocks Wall Street Still Likes—And for Good Reason Nomad Foods (NYSE:NOMD) reported second-quarter results that modestly exceeded its expectations, as price increases and productivity initiatives supported margins while retailer disruptions in key markets continued to weigh on volume and revenue. Chief Executive Officer Dominic Brisby said the company made progress on operational priorities during the quarter, including resolving commercial disputes, reorganizing its leadership and marketing teams, and advancing cost-savings efforts. He said the disruptions that affected the business earlier this year were largely resolved by the end of the second quarter. → Lumentum Just Delivered the AI Growth Investors Wanted 3 Mid-Caps Below $20 That Wall Street Loves Organic revenue declined 2.9% in the second quarter, broadly in line with retail sell-out trends, according to Chief Financial Officer Ruben Baldew. Volume declined 5.9%, primarily reflecting retailer disruptions that led to out-of-stocks and reduced promotional activity at key customers. Price mix contributed 3% to organic revenue growth, reflecting recently implemented price increases and a modestly favorable product mix. Baldew said first-quarter inventory de-stocking and order-timing effects had largely normalized during the second quarter. → Ryman Checks Into a $1.38B Hospitality Upgrade Nomad Foods: A Defensive Stock on the Move Brisby said disputes in Germany and France were the principal drivers of the company’s recent market-share underperformance. During the most recent 12-week period, Nomad’s value share declined 90 basis points and volume share declined 75 basis points, while retail value sell-out fell 3.2%. However, the company said shelves have been replenished and promotional activity is resuming. “We have already begun to see improvements in market share trends,” Brisby said, adding that Nomad expects the recovery to continue during the second half of the year. → Joby’s Defense Pivot Accelerates With $500M Resonant Sciences Deal Adjusted gross margin increased 110 basis points year over year, as pricing and productivity more than offset inflation. Baldew said the margin performance also included some timing and phasing benefits that are expected to reverse later in the year. Nomad said it remains on track toward its three-year target of generating EUR 200 million in cost savings. Productivity initiatives have offset more than 60% of inflation year to date, according to Baldew. The company said its current approach differs from its actions during the 2022 and 2023 inflationary period. Whereas Nomad previously priced ahead of inflation to protect margins, its aggregate pricing this year remains below inflation, with productivity funding the difference. Management said the approach is intended to balance profitability with competitive positioning. Adjusted EBITDA declined 4.3% in the quarter, while adjusted earnings per share totaled EUR 0.39, down EUR 0.01 from the prior-year period. Baldew said the normalization of incentive compensation created a year-over-year adjusted EBITDA headwind of more than 7% across cost of goods sold and selling, general and administrative expenses. Advertising and promotion spending was essentially unchanged from a year earlier. Indirect expenses rose by just over EUR 8 million, largely because bonus accruals had been reversed in the prior-year second quarter, creating an unfavorable comparison. Management said the European frozen-food category continued to show favorable growth. Retail value sales for the category rose 2.9% in the most recent 12-week period, with volume up 1.2%. Year-to-date category value growth was 3.4%, while volume growth was 1.6%. Brisby said year-to-date growth was broad based, with Frozen Fish and Vegetables growing roughly 3% across Nomad’s footprint. Meals and Poultry grew about 7%, while Pizza increased approximately 5%. Savory frozen-food sales were growing in major markets including the U.K., Italy and Germany, he said. The company is increasing renovation and innovation activity across its portfolio. Brisby cited upgraded Fish Fingers coatings designed to improve crunchiness, as well as planned launches including high-protein spinach products in Germany, expanded chicken offerings in the U.K., new seafood and meal products, additional ice cream development, and Pizza expansion into more countries. Nomad also completed a restructuring of its marketing organization, reducing non-working advertising and promotion spending and moving greater accountability closer to local markets. Brisby said half of his direct leadership team is now new to the organization. Adjusted free cash flow conversion improved to 49% in the first half from 43% in the prior-year period. The company paid EUR 20 million in dividends during the second quarter, bringing year-to-date dividend payments to EUR 41 million. The board declared a quarterly dividend of $0.17 per share, payable Aug. 27. Nomad suspended share repurchases during the quarter and shifted its capital-allocation focus toward reducing net debt and leverage. In July, the company refinanced EUR 800 million of notes with newly issued long-term debt. Baldew said the transaction was leverage neutral, extended Nomad’s debt maturity profile, and increased the size of its revolving credit facility. The company now has no meaningful debt maturities until 2032, he said. Nomad reaffirmed its full-year outlook for organic revenue to decline between 2% and 5% and constant-currency adjusted EBITDA to decline between 5% and 10%. Management said it expects inflation to finish toward the high end of the mid-single-digit range, with much of the increase expected in the fourth quarter. The company lowered its adjusted EPS outlook to a range of EUR 1.38 to EUR 1.53 from a prior range of EUR 1.47 to EUR 1.62. Baldew said the change reflects higher interest expense associated with the refinancing transaction and higher variable rates, rather than a change in the operating outlook. Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company's portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella's and Aunt Bessie's, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation. Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe's largest frozen foods platform. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Nomad Foods Q2 Earnings Call Highlights" was originally published by MarketBeat. 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Nomad Foods (NOMD) came out with quarterly earnings of $0.45 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.45 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +21.62%. A quarter ago, it was expected that this frozen foods company would post earnings of $0.21 per share when it actually produced earnings of $0.27, delivering a surprise of +28.57%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Nomad Foods, which belongs to the Zacks Food - Miscellaneous industry, posted revenues of $841.33 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.01%. This compares to year-ago revenues of $847.46 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Nomad Foods shares have lost about 8.9% since the beginning of the year versus the S&P 500's gain of 13.2%. While Nomad Foods has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Nomad Foods was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.57 on $863.59 million in revenues for the coming quarter and $1.75 on $3.44 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Food - Miscellaneous is currently in the bottom 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Flowers Foods (FLO), is yet to report results for the quarter ended June 2026. The results are expected to be released on August 20. This bakery goods company is expected to post quarterly earnings of $0.23 per share in its upcoming report, which represents a year-over-year change of -23.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Flowers Foods' revenues are expected to be $1.23 billion, down 1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nomad Foods Limited (NOMD) : Free Stock Analysis Report Flowers Foods, Inc. (FLO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Pricing and productivity drove a positive Adjusted Gross Margin inflection Cash generation remains strong with Adjusted Free Cash Flow conversion higher year-on-year WOKING, England, Aug. 13, 2026 /PRNewswire/ -- Nomad Foods Limited (NYSE: NOMD), today reported financial results for the three and six month periods ended June 30, 2026. Key operating metrics and financial performance for the second quarter 2026, when compared to the second quarter 2025, include: Reported Revenue decreased 3.1% to €724 million; Organic revenue declined 2.9% with a volume decline of 5.9% and a positive price-mix contribution of 3.0% Gross margin increased 130 bps, Adjusted gross margin increased 110 bps Profit for the period decreased 15% to €49 million, Adjusted EBITDA decreased 4.3% to €124 million Reported Diluted EPS decreased 5.0% to €0.35; Adjusted EPS decreased 2.5% to €0.39 Management Comments "The second quarter marked an important step forward for Nomad Foods," said Dominic Brisby, Chief Executive Officer of Nomad Foods. "We secured our price increase, expanded gross margins, restored momentum with key retail partners, and continued to strengthen our organization. Our iconic brands participate in attractive and growing categories, and we are increasing our focus on innovation, renovation, and commercial excellence to better capture that opportunity. While there is more work to do, I am encouraged by the progress we are making and excited about the significant value creation opportunities ahead as we unlock the full value of our brands, supply chain, and pan-European platform. I remain confident in our ability to drive improved performance and create meaningful shareholder value." "The Board is encouraged by the progress made during the quarter as Nomad Foods continues to strengthen its foundation and advance its strategic priorities," said Noam Gottesman, Co-Chairman and Founder of Nomad Foods. "We are particularly pleased with the actions taken to enhance the Company's leadership team, improve operational efficiency, and restore momentum with key customers. The Board remains confident in management's ability to execute its value creation plan and believes the Company is well positioned to capitalize on the attractive long-term growth opportunities within the frozen food category." Second Quarter 2026 results compared to Second Quarter of 2025 Revenue decreased 3.1% to €724 million. Organic revenue decreased by 2.9% and was driven by a volume decline of 5.9% partly offset with an improvement in price-mix of 3.0%. Adjusted gross profit increased 0.7% to €209 million. Adjusted gross margin increased 110 basis points to 28.9% due to positive price contribution and continued supply chain productivity. Adjusted operating expenses increased 7.8% to €111 million due to the rebuild of the company's employee performance incentive scheme. Adjusted EBITDA decreased 4.3% to €124 million due to the aforementioned factors and Adjusted Profit for the period decreased 9% to €55 million. Adjusted EPS decreased €0.01 to €0.39 with the decrease in Adjusted Profit for the period offset in part by fewer shares outstanding. Reported Diluted EPS decreased €0.02 to €0.35. First Six Months of 2026 results compared to the First Six Months of 2025 Revenue decreased 4.5% to €1,439 million. Organic revenue decreased by 4.1% and was driven by a volume decline of 5.1% and an improvement in price/mix of 1.0%. Adjusted gross profit decreased 6.3% to €393 million. Adjusted gross margin decreased 50 basis points to 27.3%, due to supply chain inflation headwinds, partially offset by pricing and supply chain productivity. Adjusted operating expenses increased 3.6% to €227 million due to the rebuild of the company's employee performance incentive scheme partly offset with a reduction in Advertising and Promotion expense. Adjusted EBITDA decreased 13.3% to €216 million due to the aforementioned factors. Adjusted Profit for the period decreased 23.2% to €88 million. Adjusted EPS decreased by €0.12 to €0.62 reflecting the decrease in Adjusted Profit for the period and fewer shares outstanding. Reported Diluted EPS decreased €0.03 to €0.55. 2026 GuidanceIn line with previous guidance, for the full year the Company continues to expect organic revenue to decline by 2%-5% and Adjusted EBITDA to decline by 5%-10%. Adjusted EPS is now expected to be €1.38-€1.53, versus prior guidance of €1.47-€1.62, due to higher interest expense associated with the Company's recently completed refinancing activity and higher variable interest rates. Based on USD/EUR exchange rate as of August 6, 2026, this translates into 2026 Adjusted EPS of $1.59-$1.76. The Company also continues to expect full year Adjusted Free Cash Flow conversion of 90% or greater. Conference Call and WebcastA pre-recorded management discussion of Nomad Foods' second quarter 2026 earnings and accompanying presentation is available at www.nomadfoods.com under Investor Relations. The Company will host a live question-and-answer session to discuss these results today, Thursday, August 13, 2026 at 1:30 p.m. BST (8:30 a.m. Eastern Daylight Time). To participate on the live call listeners in North America may dial +1-877-451-6152 and international listeners may dial +1-201-389-0879. The call is also being webcast and can be accessed at the Nomad Foods website at www.nomadfoods.com under Investor Relations. A replay of the conference call will be available on the Company website for two weeks following the event and can be accessed by listeners in North America by dialing +1-844-512-2921 and by international listeners by dialing +1-412-317-6671; the replay pin number is 13761121. EnquiriesInvestor Relations ContactJason [email protected] Media ContactOliver Thomas, Head of Corporate [email protected] About Nomad FoodsNomad Foods (NYSE: NOMD) is Europe's leading frozen food company. The Company's portfolio of iconic brands, which includes Birds Eye, Findus, iglo, Ledo and Frikom, have been a part of consumers' meals for generations, standing for great tasting food that is convenient, high quality and nutritious. Nomad Foods is headquartered in the United Kingdom. Additional information may be found at www.nomadfoods.com. Non-IFRS Financial InformationNomad Foods is presenting Adjusted and Organic financial information, which is considered non-IFRS financial information, for the three and six months ended June 30, 2026 and for comparative purposes, the three and six months ended June 30, 2025. Adjusted financial information for the three and six months ended June 30, 2026 and 2025 presented in this press release reflects the historical reported financial statements of Nomad Foods, adjusted primarily for, when they occur, share based payment expenses and related employer payroll taxes, non-operating M&A related costs, acquisition purchase price adjustments, exceptional items and foreign currency translation charges/gains. Adjusted EBITDA is profit or loss for the period before taxation, net financing costs, depreciation and amortization, adjusted to exclude, when they occur, the impacts of exited markets, acquisition purchase price adjustments and exceptional items such as restructuring charges, goodwill and intangible asset impairment charges and other unusual or non-recurring items. In addition, we exclude other adjustments such as the impact of share based payment expenses and related employer payroll taxes, and non-operating M&A related costs, because we do not believe they are indicative of our normal operating costs, can vary significantly in amount and frequency, and are unrelated to our underlying operating performance. The Company believes Adjusted EBITDA provides important comparability of underlying operating results, allowing investors and management to assess operating performance on a consistent basis. Adjusted EBITDA should not be considered as an alternative to profit/(loss) for the period, determined in accordance with IFRS, as an indicator of the Company's operating performance. Adjusted Profit for the period is defined as profit for the period excluding, when they occur, the impacts of exited markets, acquisition purchase price adjustments and exceptional items such as restructuring charges, goodwill and intangible asset impairment charges, net financing income/(cost) on amendment of terms of debt, interest cost on tax relating to legacy tax audits, foreign exchange translation gains/(losses), foreign exchange gains/(losses) on derivatives, hedge ineffectiveness on cross currency and interest rate swaps, as well as certain other items considered unusual or non-recurring in nature. In addition, we exclude other adjustments such as the impact of share based payment expenses and related employer payroll taxes, and non-operating M&A related costs, because we do not believe they are indicative of our normal operating costs, can vary significantly in amount and frequency, and are unrelated to our underlying operating performance. The Company believes Adjusted Profit for the period provides important comparability of underlying operating results, allowing investors and management to assess operating performance on a consistent basis. Adjusted EPS is defined as diluted earnings per share excluding, when they occur, the impacts of exited markets, acquisition purchase price adjustments and exceptional items such as restructuring charges, goodwill and intangible asset impairment charges, net financing income/(cost) on amendment of terms of debt, interest cost on tax relating to legacy tax audits, foreign exchange translation gains/(losses), foreign exchange gains/(losses) on derivatives, certain one-time credits on the recognition of deferred tax assets, as well as certain other items considered unusual or non-recurring in nature. In addition, we exclude other adjustments such as the impact of share based payment expenses and related employer payroll taxes, and non-operating M&A related costs, because we do not believe they are indicative of our normal operating costs, can vary significantly in amount and frequency, and are unrelated to our underlying operating performance. The Company believes Adjusted EPS provides important comparability of underlying operating results, allowing investors and management to assess operating performance on a consistent basis. Organic revenue growth/(decline) is an adjusted measurement of our operating results. The comparison for the three and six months ended June 30, 2026 and 2025 presented in this press release takes into consideration only those activities that were in effect during both time periods. Organic revenue growth/(decline) reflects reported revenue adjusted for currency translation and non-comparable trading items such as expansion, acquisitions, disposals, closures, trading day impacts or any other event that artificially impacts the comparability of our results period over period. Adjusted Gross Profit and adjusted gross margin exclude accelerated depreciation associated with restructuring programs within cost of goods sold. Adjustments for currency translation are calculated by translating data of the current and comparative periods using a budget foreign exchange rate that is set once a year as part of the Company's internal annual forecast process. Adjusted Free Cash Flow is the amount of cash generated from operating activities less cash flows related to exceptional items (as described above), non-operating M&A related costs and working capital movements on employer taxes associated with share based payment awards, plus capital expenditure (on property, plant and equipment and intangible assets), net interest paid, proceeds/(payments) on settlement of derivatives where hedge accounting is not applied and payments of lease liabilities. Adjusted free cash flow reflects cash flows that could be used for payment of dividends, repayment of debt or to fund acquisitions or other strategic objectives. Adjusted Free Cash flow conversion is Adjusted Free Cash Flow as a percentage of Adjusted Profit for the period. Adjusted and Organic non-IFRS financial information should be read in conjunction with the unaudited financial statements of Nomad Foods included in this press release as well as the historical financial statements of the Company previously filed with the SEC. Nomad Foods believe its non-IFRS financial measures provide an important additional measure with which to monitor and evaluate the Company's ongoing financial results, as well as to reflect its acquisitions. Nomad Foods' calculation of these financial measures may be different from the calculations used by other companies and comparability may therefore be limited. The Adjusted and Organic financial information presented herein is based upon certain assumptions that Nomad Foods believes to be reasonable and is presented for informational purposes only and is not necessarily indicative of any anticipated financial position or future results of operations that the Company will experience. You should not consider the Company's non-IFRS financial measures an alternative or substitute for the Company's reported results and are cautioned not to place undue reliance on these results and information as they may not be representative of our actual or future results as a Company. Please see on pages 8 to 13, the non-IFRS reconciliation tables attached hereto and the schedules accompanying this release for an explanation and reconciliation of the Adjusted and Organic financial information to the most directly comparable IFRS measure. The Company is unable to reconcile, without unreasonable efforts, Organic Growth, Adjusted EBITDA and Adjusted EPS guidance to the most directly comparable IFRS measure. Nomad Foods Limited Reconciliation of Non-IFRS Financial Measures(In € millions, except per share data) The following table reconciles adjusted financial information for the three months ended June 30, 2026 to the reported results of Nomad Foods for such period. Nomad Foods LimitedReconciliation of Non-IFRS Financial Measures (continued) The following table reconciles adjusted financial information for the three months ended June 30, 2025 to the reported results of Nomad Foods for such period. Reconciliation of Non-IFRS Financial Measures (continued) The following table reconciles adjusted financial information for the six months ended June 30, 2026 to the reported results of Nomad Foods for such period. Reconciliation of Non-IFRS Financial Measures (continued) The following table reconciles adjusted financial information for the six months ended June 30, 2025 to the reported results of Nomad Foods for such period. Nomad Foods LimitedReconciliation of Non-IFRS Financial Measures (continued) The following table reconciles Adjusted EBITDA to the reported results of Nomad Foods for each period. Nomad Foods LimitedReconciliation of Non-IFRS Financial Measures (continued) Reconciliation from reported to organic revenue growth/(decline) The following table is a reconciliation of reported revenue growth/(decline) to Organic Revenue Growth for the three and six month periods ended June 30, 2026. Forward-Looking Statements Forward-Looking Statements and DisclaimersCertain statements in this announcement are forward-looking statements which are based on the Company's expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts, including the Company's expectations regarding (i) its future operating and financial performance, including its 2026 guidance with respect to organic revenue growth, Adjusted EBITDA growth, adjusted free cash flow conversion, and Adjusted EPS; (ii) its growth and efficiency initiatives, including with respect to its innovation and renovation initiatives, (iii) its ability to drive improved performance and and create meaningful shareholder value; (iv) its growth strategy; (v) its long-term growth opportunities and portfolio's ability to remain well positioned for consumer trends; and (vii) its new leadership's ability to improve the Company's results and growth These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: (i) the Company's ability to effectively mitigate factors that negatively impact its supply of raw materials, including the conflict in Ukraine and the Middle East and climate-related factors beyond the Company's control; (ii) the Company's ability to successfully mitigate inflationary changes in the market; (iii) disruptions or inefficiencies in the Company's operations or supply chain, including as a result of the conflict in Ukraine and the Middle East or trade conflicts; (iv) the Company's ability to successfully implement its strategies and strategic initiatives and to recognize the anticipated benefits of such strategic initiatives; (v) innovations introduced to the markets and the Company's ability to accurately forecast the brands' performance; (vi) the Company's ability to effectively compete in its markets; (vii) changes in consumer preferences, such as meat substitutes, and the Company's failure to anticipate and respond to such changes or to successfully develop and renovate products; (viii) the effects of reputational damage from unsafe or poor quality food products; (ix) the risk that securities markets will react negatively to actions by the Company; (x) the adequacy of the Company's cash resources to achieve its anticipated growth agenda; (xi) increases in operating costs, including labor costs, and the Company's ability to manage its cost structure; (xii) fluctuations in the availability of food ingredients and packaging materials that the Company uses in its products; (xiii) the Company's ability to protect its brand names and trademarks; (xiv) the Company's ability to prevent, or remediate, any future cybersecurity incidents; (xv) loss of the Company's financial arrangements with respect to receivables factoring; (xvi) the loss of any of the Company's major customers or a decrease in demand for its products; (xvii) economic conditions that may affect the Company's future performance including exchange rate fluctuations; (xviii) the Company's ability to successfully interpret and respond to key industry trends and to realize the expected benefits of its responsive actions; (xix) the Company's failure to comply with, and liabilities related to, environmental, health and safety laws and regulations; (xx) changes in applicable laws or regulations; (xxi) the Company's ability to remediate any material weaknesses in its internal control over financial reporting; (xxii) the Company's ability to effectively execute its comprehensive value creation plan and other strategic initiatives; (xxiii) the Company's ability to hire, retain and motivate key employees and top tier talent; and (xxiv) the other risks and uncertainties disclosed in the Company's public filings and any other public disclosures by the Company. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company does not undertake any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. No Offer or Solicitation This press release and referenced conference call are provided for informational purposes only and do not constitute an offer to sell, or an invitation to subscribe for, purchase or exchange, any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance, exchange or transfer of the securities referred to in this press release or on the referenced conference call in any jurisdiction in contravention of applicable law. The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions. View original content to download multimedia:https://www.prnewswire.com/news-releases/nomad-foods-reports-second-quarter-2026-financial-results-302850289.html

Armanino Foods of Distinction Inc. (AMNF) came out with quarterly earnings of $0.18 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.15 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +20.00%. A quarter ago, it was expected that this company would post earnings of $0.13 per share when it actually produced earnings of $0.15, delivering a surprise of +15.38%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Armanino Foods of Distinction, which belongs to the Zacks Food - Miscellaneous industry, posted revenues of $21.7 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.36%. This compares to year-ago revenues of $19.97 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Armanino Foods of Distinction shares have lost about 0.7% since the beginning of the year versus the S&P 500's gain of 13.3%. While Armanino Foods of Distinction has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Armanino Foods of Distinction was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.15 on $21 million in revenues for the coming quarter and $0.61 on $81.5 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Food - Miscellaneous is currently in the bottom 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Nomad Foods (NOMD), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 13. This frozen foods company is expected to post quarterly earnings of $0.37 per share in its upcoming report, which represents a year-over-year change of -17.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Nomad Foods' revenues are expected to be $832.9 million, down 1.7% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Armanino Foods of Distinction Inc. (AMNF) : Free Stock Analysis Report Nomad Foods Limited (NOMD) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research