Nomad Foods Registers ~27% Revenue Growth In Q3

Nomad Foods Ltd NOMD reported third-quarter FY22 sales growth of 26.7% year-on-year to €‎760 million. Organic revenue increased 7.2% Y/Y.
The gross profit for the quarter climbed 31.9% Y/Y to €‎221 million. Gross margin increased 110 basis points to 29.1%, driven by higher pricing offsetting higher raw material costs across the business.
The operating expenses increased 26.6%. The operating margin was 14.3%, and operating income for the quarter rose 35% to €108.8 million.
The company held €194.3 million in cash and equivalents as of September 30, 2022.
Adjusted EBITDA for the quarter increased 35.3% to €153 million. Adjusted EBITDA margin was 20.2%.
Adjusted EPS for Q3 increased 9.8% to €1.35.
Outlook: Nomad Foods has reaffirmed its adjusted EPS guidance of €1.65 - €1.71.
Price Action: NOMD shares are trading higher by 0.32% at $15.86 on the last check Wednesday.
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