Nomad Foods Reports Second Quarter 2026 Financial Results

Pricing and productivity drove a positive Adjusted Gross Margin inflection Cash generation remains strong with Adjusted Free Cash Flow conversion higher year-on-year WOKING, England , Aug. 13, 2026 /PRNewswire/ -- Nomad Foods Limited (NYSE: NOMD ), today reported financial results for the three and six month periods ended June 30, 2026. Key operating metrics and financial performance for the second quarter 2026, when compared to the second quarter 2025, include: Reported Revenue decreased 3.1% to €724 million; Organic revenue declined 2.9% with a volume decline of 5.9% and a positive price-mix contribution of 3.0% Gross margin increased 130 bps, Adjusted gross margin increased 110 bps Profit for the period decreased 15% to €49 million, Adjusted EBITDA decreased 4.3% to €124 million Reported Diluted EPS decreased 5.0% to €0.35; Adjusted EPS decreased 2.5% to €0.39 Management Comments "The second quarter marked an important step forward for Nomad Foods," said Dominic Brisby, Chief Executive Officer of Nomad Foods. "We secured our price increase, expanded gross margins, restored momentum with key retail partners, and continued to strengthen our organization. Our iconic brands participate in attractive and growing categories, and we are increasing our focus on innovation, renovation, and commercial excellence to better capture that opportunity. While there is more work to do, I am encouraged by the progress we are making and excited about the significant value creation opportunities ahead as we unlock the full value of our brands, supply chain, and pan-European platform. I remain confident in our ability to drive improved performance and create meaningful shareholder value." "The Board is encouraged by the progress made during the quarter as Nomad Foods continues to strengthen its foundation and advance its strategic priorities," said Noam Gottesman, Co-Chairman and Founder of Nomad Foods. "We are particularly pleased with the actions taken to enhance the Company's leadership team, improve operational efficiency, and restore momentum with key customers. The Board remains confident in management's ability to execute its value creation plan and believes the Company is well positioned to capitalize on the attractive long-term growth opportunities within the frozen food category." Second Quarter 2026 results compared to Second Quarter of 2025 Revenue decreased 3.1% to €724 million. Organic revenue decreased by 2.9% and was driven by a volume decline of 5.9% partly offset with an improvement in price-mix of 3.0%. Adjusted gross profit increased 0.7% to €209 million. Adjusted gross margin increased 110 basis points to 28.9% due to positive price contribution and continued supply chain productivity. Adjusted operating expenses increased 7.8% to €111 million due to the rebuild of the company's employee performance incentive scheme. Adjusted EBITDA decreased 4.3% to €124 million due to the aforementioned factors and Adjusted Profit for the period decreased 9% to €55 million. Adjusted EPS decreased €0.01 to €0.39 with the decrease in Adjusted Profit for the period offset in part by fewer shares outstanding. Reported Diluted EPS decreased €0.02 to €0.35. First Six Months of 2026 results compared to the First Six Months of 2025 Revenue decreased 4.5% to €1,439 million. Organic revenue decreased by 4.1% and was driven by a volume decline of 5.1% and an improvement in price/mix of 1.0%. Adjusted gross profit decreased 6.3% to €393 million. Adjusted gross margin decreased 50 basis points to 27.3%, due to supply chain inflation headwinds, partially offset by pricing and supply chain productivity. Adjusted operating expenses increased 3.6% to €227 million due to the rebuild of the company's employee performance incentive scheme partly offset with a reduction in Advertising and Promotion expense. Adjusted EBITDA decreased 13.3% to €216 million due to the aforementioned factors. Adjusted Profit for the period decreased 23.2% to €88 million. Adjusted...