Q3 2024 Nomad Foods Ltd Earnings Call Transcript
Key Points
- Nomad Foods Ltd (NOMD) reported its ninth consecutive quarter of organic sales growth and second consecutive quarter of volume growth.
- The company achieved a gross margin increase of 390 basis points year over year, reaching a new quarterly high of 32.3%.
- Adjusted EBITDA rose 19% year over year, and adjusted EPS increased by 28% to 55 Eurocents.
- Nomad Foods Ltd (NOMD) has returned to market share growth, driven by investments in marketing and innovation.
- The company is seeing improved momentum in the market, with volume sales and share growth accelerating further in the fourth quarter.
- Nomad Foods Ltd (NOMD) faced temporary headwinds related to ERP implementation, which affected service levels and required a reduction in market support.
- The company had to lower its full-year revenue outlook due to the impact of the ERP transition.
- There was a modest reduction in the full-year profit outlook as the company maintained its investment levels despite lower revenue growth.
- The ERP transition caused a 2.5% headwind to organic growth in the third quarter.
- Nomad Foods Ltd (NOMD) anticipates a sequential step down in profit margin in the fourth quarter due to seasonal factors and reversal of promotional timing benefits.
Good day. Ladies and gentlemen and welcome to Nomad Foods third quarter, 2024 earnings conference call at this time, all participant lines are in the listen-only mode.
A question and answer session will follow the formal presentation.
Please note that this conference is being recorded.
I would now like to turn the conference over to Jason English, head of investor relations.
Hello and welcome to Nomad Foods third quarter, 2024 earnings call. I'm Jason English, head of Investor relations and I'm joined on the call by Stefan Descheemaeker, our CEO ; and Ruben Baldew, our CFO by now, everyone should have access to the earnings release for the period in September 30th 2024 that was published at approximately 6:45 a.m. Eastern time.
The press release and investor presentation are available on Nomad Foods website at www dot nomad foods dotcom. This call is being webcast and a replay will be available on the company's website. This conference call will include forward
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
