Nomad Foods reports Q3 EPS EUR 0.43 vs. EUR 0.46 last year

Reports Q3 revenue EUR 763.5M vs. EUR 759.6M last year. Stefan Descheemaeker, Nomad Foods’ CEO, stated, “In the third quarter, we maintained our organic sales momentum from the first half of the year. Additionally, during September we kicked off our stepped-up A&P investment plan with a new and dynamic media campaign augmented by a comprehensive in-store promotional program, positioning us for a return to sustainable, long-term volume and market share growth. As a result of our third quarter operational performance, share repurchase, and our positive expectations for the end of 2023, we are again raising our Adjusted EPS guidance range to EUR 1.57 to EUR 1.60 from our previous range of EUR 1.54 to EUR 1.57. We maintain our guidance for Adjusted Free Cash Flow conversion in the range of 90% to 95%, and we are on course to generate approximately EUR 250 million of Adjusted Free Cash Flow for the year.”