Nomad Foods Third Quarter 2024 Earnings: Misses Expectations

Nomad Foods (NYSE:NOMD) Third Quarter 2024 Results

Key Financial Results

• Revenue: €769.6m (flat on 3Q 2023).
• Net income: €70.3m (down 9.4% from 3Q 2023).
• Profit margin: 9.1% (down from 10% in 3Q 2023).
• EPS: €0.44 (down from €0.46 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Nomad Foods Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 9.0%.

Looking ahead, revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Food industry in the US.

Performance of the American Food industry.

The company's shares are down 2.5% from a week ago.

Valuation

It's possible that Nomad Foods could be undervalued with our 6-factor valuation analysis indicating a potential opportunity. You can access our in-depth analysis and discover what the outlook is like for the stock by clicking here.

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