Nomad Foods sees 2024 adjusted EPS up 9%-12% y-o-y to EUR1.75-EUR1.80

Consensus for 2024 EPS is $1.90. Sees 2024 revenue growth up 3%-4%, consensus $3.39B. CEO Stefan Descheemaeker stated, “We are pleased with our continued momentum in Q4 as we closed a difficult year and remain well-positioned to deliver another year of attractive growth in 2024. We expect to end 2023 with revenues in line with our previous guidance of mid-single digit organic growth, while full year Adjusted EPS, Adjusted Cash Flow, and Adjusted Cash Flow conversion are expected to be above our previous guidance of EUR1.57- EUR1.60, EUR250M, and 90% – 95%, respectively. Our full year adjusted EBITDA is expected to be modestly above current consensus estimates…s we look ahead to 2024, we expect our full year revenues to increase by 3%-4%. Our volume and market share trends continue to improve sequentially and we expect to deliver positive volume and share growth in 2024. We expect our 2024 adjusted EBITDA to increase by 4%-6%, while our adjusted EPS is expected to increase by 9%-12% to EUR1.75-EUR1.80 per share. We remain focused on generating strong cash flows and expect full year adjusted cash conversion in the 90% – 95% range”.