Nomad Foods Announces Preliminary Second Quarter 2026 Results

Nomad Foods Limited (NOMD) today announced preliminary second quarter 2026 financial results. The execution of the Company's plan continues to progress well in this rebuilding year. For the three-month period ended June 30, 2026, Nomad Foods expects reported and organic revenue to decline by 2.5-3.5%, Adjusted EBITDA to be in the range of approximately €120-€126 million and closing cash and cash equivalents balance of approximately €273 million. The Company is also reiterating its full year organic revenue, Adjusted EBITDA and Adjusted Free Cash Flow conversion guidance. For the full year ending December 31, 2026, the Company continues to expect organic revenue to decline by 2%-5%, Adjusted EBITDA to decline by 5%-10% and Adjusted Free Cash Flow Conversion of 90%+.

The Company is evaluating its full-year EPS guidance as a result of anticipated debt refinancing activities and the associated impact of such activities on the Company's anticipated interest expense and Adjusted Net Income.

Dominic Brisby, Nomad Foods' Chief Executive Officer, stated, "We are pleased to report that second quarter results are projected to be ahead of the expectations we communicated last quarter and we remain confident in our ability to deliver on the full-year organic sales and Adjusted EBITDA guidance. The growth of our category remains robust and we have seen the successful implementation of our previously announced price increases contributing to a year-on-year increase in gross margin for the quarter. We look forward to sharing more details when we report second quarter 2026 results in August."

Ruben Baldew, Nomad Foods' Chief Financial Officer, commented, "Our plans to strengthen our fundamental foundation are working, our cash flow is robust, and our balance sheet is strong. Given this and the current market conditions, we believe now is the right time to proactively explore the refinancing of our indebtedness. This may increase our interest expense, but we intend to take certain actions to reduce that impact over time, primarily by reducing our net debt."