Nomad Foods Limited (NOMD) Reports Q4 EPS & Revenues Above Estimates

Note: EPS may not be comparable

* Results based on Conversion Rate: 1 EUR =$1.23 USD

Nomad Foods Limited (NYSE: NOMD) reported Q4 EPS of $0.33*, $0.02 better than the analyst estimate of $0.31. Revenue for the quarter came in at $626.24* million versus the consensus estimate of $618.09 million.

Fourth Quarter of 2017 results compared to the Fourth Quarter of 2016

• Revenue increased 4.7% to €508 million. Organic revenue growth of 5.6% was driven by 3.0% growth in volume/mix and 2.6% growth in price.
• Gross profit increased 18% to €160 million. Gross margin expanded 350 basis points to 31.5% due to positive mix, improved pricing and promotional efficiency and manufacturing improvements. Foreign exchange currency translation positively impacted gross margin by 10 basis points.
• Adjusted operating expense increased 2% to €89 million. Advertising and promotion expense decreased 7% to €35 million due to more normalized seasonality versus the prior year. Indirect expense increased 8% to €54 million, primarily due to the reinstatement of bonuses in 2017.
• Adjusted EBITDA increased 31% to €82 million.
• Adjusted profit after tax increased 93% to €46 million reflecting interest rate savings from debt repricing amendments and lower depreciation and amortization. Adjusted EPS increased 108% to €0.27, reflecting Adjusted EBITDA growth and a lower share count resulting from share repurchases.

For earnings history and earnings-related data on Nomad Foods Limited (NOMD) click here.

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