Nomad Foods Delivers Impressive Third Quarter 2024 Financial Results: A Look at the Numbers
Description:
Balanced growth strategy delivers volume & value gains Revenue growth of +0.8% with Adjusted EPS +28% YoY to €0.55 Full year 2024 guidance reduced following a temporary ERP disruption WOKING, England , Nov. 14, 2024 /PRNewswire/ — Nomad Foods Limited (NYSE: NOMD), today reported financial results for the three and nine month periods ended September 30, 2024. Key operating highlights and financial performance for the third quarter 2024, when compared to the third quarter 2023, include: Reported revenue increased 0.8% to €770 million Organic revenue growth of 0.3% with volume growth of 0.7%, despite an approximate 2.5% temporary headwind related to greater than expected ERP disruptions Adjusted EBITDA increased 19.0% to €166 million Adjusted EPS increased 28% to €0.55 Management Comments Stéfan Descheemaeker, Nomad Foods’ Chief Executive Officer, stated, “I am pleased our team continues to accelerate profitable volume growth, and I am confident that our commercial flywheel is working and building momentum.
How will this affect me?
As a consumer, the impressive financial results of Nomad Foods may translate to potential improvements in the quality and variety of their products. The increased revenue and profit could lead to investment in research and development for new and innovative food offerings. It may also result in better pricing strategies or promotions that benefit customers.
How will this affect the world?
The positive financial results of Nomad Foods could have broader implications for the food industry as a whole. Competitors may feel pressure to enhance their product offerings or marketing strategies to stay competitive. Additionally, the company’s success could attract more investment in the industry, leading to overall growth and innovation in the market.
Conclusion:
In conclusion, Nomad Foods’ impressive third-quarter financial results signal a promising future for the company and potentially the wider food industry. With a focus on balanced growth strategies and continued profitability, Nomad Foods is poised for further success in the coming years.
