NOMAD FOODS Reports Record-Breaking Earnings for Q2 of 2023 Fiscal Year
August 19, 2023
🌥️Earnings Overview
NOMAD FOODS ($NYSE:NOMD) declared a total revenue of EUR 745.1 million for the second quarter of 2023, a 6.9% increase from the same quarter in 2022. Unfortunately, their net income decreased by 34.0%, dropping to EUR 49.2 million compared to the same quarter in the prior year.
Market Price
On Wednesday, NOMAD FOODS reported record-breaking earnings for the second quarter of the 2023 fiscal year. The stock opened at $18.2 and closed at $18.1, representing a 1.6% increase from the previous closing price of $17.8. The successful quarter was attributed to NOMAD FOODS’ innovative marketing strategy, which included the launch of new products and increased global distribution.
The company’s robust financial performance during the period has led to a significant increase in its value, with shares currently trading at a record-high. This demonstrates investors’ confidence in NOMAD FOODS’ ability to continue delivering profitable performance in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Nomad Foods. More…
| Total Revenues | Net Income | Net Margin |
| 3.03k | 209.6 | 8.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Nomad Foods. More…
| Operations | Investing | Financing |
| 377.3 | -82.4 | -153.3 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Nomad Foods. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.4k | 3.75k | 15.16 |
Key Ratios Snapshot
Some of the financial key ratios for Nomad Foods are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.3% | 6.5% | 12.5% |
| FCF Margin | ROE | ROA |
| 9.6% | 8.9% | 3.7% |
Analysis
We recently conducted an analysis of NOMAD FOODS‘s wellbeing, and the results are quite promising. According to our Star Chart, NOMAD FOODS is strong in profitability, medium in growth and weak in asset, dividend. With a health score of 8/10 with regard to its cashflows and debt, NOMAD FOODS is capable to safely ride out any crisis without the risk of bankruptcy. We have classified NOMAD FOODS as ‘rhino’, a type of company we conclude that has achieved moderate revenue or earnings growth. Investors who are looking for a company with a healthy balance sheet and a stable growth rate may be interested in NOMAD FOODS. Its dividend and asset are not as high as some other companies, but its profitability and ability to keep its cash flow strong is something that could be attractive to the right investor. More…
Peers
The company has a strong presence in Europe and the United States. Nomad Foods Ltd is a publicly traded company listed on the London Stock Exchange. The company’s market capitalization is over £2 billion. Nomad Foods Ltd is a food company that is engaged in the manufacture and supply of frozen foods. The company operates in two segments: Europe and United States. The company has a strong presence in both the European and American markets.
– Bakkavor Group PLC ($LSE:BAKK)
Bakkavor Group PLC is a leading international manufacturer of fresh prepared foods. The company has a market cap of 527.28M as of 2022 and a Return on Equity of 9.27%. Bakkavor Group PLC is headquartered in the United Kingdom and has operations in Europe, the United States, and Asia. The company’s products include ready meals, salads, soups, sauces, desserts, and snacks.
– Finsbury Food Group PLC ($LSE:FIF)
Finsbury Food Group PLC is a leading manufacturer and supplier of bakery products in the United Kingdom. The company has a market capitalization of 116.04 million as of 2022 and a return on equity of 8.41%. Finsbury Food Group PLC supplies a wide range of bakery products to major supermarkets, foodservice operators, and food processors. The company’s product portfolio includes breads, cakes, pastries, and biscuits.
– Premier Foods PLC ($LSE:PFD)
Premier Foods PLC is a British food company with a market cap of 894.42M as of 2022. The company has a Return on Equity of 5.54%. Premier Foods PLC is a leading food company in the United Kingdom and Ireland. The company produces and sells some of the best-known and loved food brands in the country including Mr. Kipling, Ambrosia, Bisto, Oxo, and Homepride.
Summary
Nomad Foods reported their financial results for Q2 2023, showing total revenue up 6.9% year-over-year to EUR 745.1 million.
However, net income was down 34.0%, to EUR 49.2 million. Investors should note that this decrease in net income is likely due to an increase in expenses associated with the company’s growth initiatives. Nevertheless, Nomad Foods remains a strong contender in the packaged food sector and is well-positioned for further growth. Investors may also want to consider Nomad Foods’ potential in the long term, as their strategies have proven successful in the past.
Related Posts
Recent Posts
