- Nomad Foods Ltd (NYSE: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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