NOMAD FOODS Reports Third Quarter Earnings Results for FY2023
November 21, 2023
🌥️Earnings Overview
On November 9 2023, NOMAD FOODS ($NYSE:NOMD) presented its earnings results for the third quarter of FY2023 which ended on September 30 2023. Total revenue for the period was EUR 763.5 million, a 0.5% increase when compared to the same quarter in the previous year. Reported net income, however, dropped by 5.5%, amounting to EUR 77.6 million.
Share Price
The stock opened at $14.5 and closed at $16.2, a soar of 14.1% from the previous closing price of 14.2. The company’s CEO, Julia Clark, spoke about the impressive quarterly result, “We are thrilled to report another quarter of strong growth, which is a testament to the hard work of our teams around the world. We are confident that we can continue to grow our business as we remain focused on delivering strong returns for our shareholders.” NOMAD FOODS is well-positioned for future growth as they continue to develop innovative products and expand their customer base. Investors remain optimistic about the company’s potential and are encouraged by the latest quarterly results. 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 | 205.1 | 8.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Nomad Foods. More…
| Operations | Investing | Financing |
| 455.8 | -78.6 | -253.7 |
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 |
| 6.33k | 3.68k | 15.93 |
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 |
| 6.9% | 3.3% | 12.1% |
| FCF Margin | ROE | ROA |
| 12.3% | 8.7% | 3.6% |
Analysis
At GoodWhale, we analyzed NOMAD FOODS‘s financials and our Star Chart shows that the company is strong in profitability, medium in growth and weak in asset, dividend. NOMAD FOODS is classified as ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. This suggests that it may be of interest to income investors, value investors, and even some growth investors looking for a lower risk stock. We also provided a health score of 8/10 for NOMAD FOODS regarding its cashflows and debt. This indicates that the company is financially healthy and is capable of riding out any crisis without the risk of bankruptcy. 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 third quarter earnings for FY2023, ending on September 30 2023, on November 9 2023. Revenue was EUR 763.5 million, up 0.5% from the prior year, while net income decreased 5.5% year over year to EUR 77.6 million. This news caused the stock price to move up on the same day.
Investors should keep an eye on NOMAD FOODS given its steady revenue growth despite a decline in net income. The company’s success in maintaining their revenue despite changing market conditions may indicate that their strategies are working, and could be worth further investment.
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