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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Nomad Foods
Nomad Foods (NOMD) investor relations material
Nomad Foods Q3 2026 (Q&A) earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 (Q&A) earnings summary4 Nov, 2026
Executive summary
Q3 organic revenue returned to growth at 1.6% YoY, with volume -0.2% and price/mix +1.8%; adjusted EBITDA declined 1.5%.
Full-year 2026 guidance was maintained; 2027 targets call for organic revenue and adjusted EBITDA growth of 0–2% each.
Frozen-retail cyber disruptions had a modest, slightly positive net effect as replenishment orders more than offset temporary availability declines.
Financial highlights
Q3 revenue was €770m, up 2.3% reported and 1.6% organically; adjusted gross profit was €208m, down 1.7% YoY.
Q3 adjusted EBITDA was €140.5m versus €142.7m; adjusted profit was €66.5m versus €71.8m, and adjusted EPS was €0.47 versus €0.49.
9M revenue was €2,208.9m, down 2.2% organically; adjusted EBITDA was €356.8m versus €392.1m, and adjusted profit was €154.1m, down 17.1%.
9M adjusted free cash flow rose 22% to €80.1m from €65.6m; exceptional cash adjustments declined 40% YoY.
Q3 adjusted operating expenses were €93m, down 1.1%; productivity savings offset most of the incentive-compensation rebuild, while non-recurring costs were below €4m.
Outlook and guidance
2026 guidance reiterated: organic revenue decline of 2–3%, adjusted EBITDA decline of 5–10%, adjusted EPS of €1.38–€1.53, and adjusted FCF conversion of at least 90%.
Q4 adjusted EBITDA is expected to be negative, mainly due to additional fish inflation; shipment outcomes depend on customer responses to the second off-cycle price increase.
2027 targets remain organic revenue growth of 0–2%, adjusted EBITDA growth of 0–2%, and adjusted FCF conversion of at least 90%; midpoint implies growth in revenue and EBITDA.
2027 assumptions unchanged: gross inflation ~7%, savings ~3%, net inflation 4%; pricing actions will selectively balance price and volume opportunities.
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Latest events from Nomad Foods
- Organic growth returned, adjusted EBITDA declined and guidance held.NOMD
Q3 2026 Prepared Remarks - Growth targets, broader markets and €200m–€225m of savings underpin the 2027–2029 plan.NOMDInvestor Day 2026
- Q2 2026 organic revenue fell 2.9%, but gross margin and cash flow conversion improved.NOMDQ2 2026 Prepared Remarks
- Revenue and profit declined, but gross margin and cash flow conversion improved.NOMDQ2 2026 (Q&A)
- Leadership overhaul and commercial focus aim to regain share and drive growth in a healthy category.NOMD23rd annual dbAccess Global Consumer Conference
- Q1 2026 saw category growth but revenue and profit fell, while EPS guidance was raised.NOMDQ1 2026 (Q&A)
- Organic revenue and profit fell, but cash flow and EPS guidance improved amid restructuring.NOMDQ1 2026 Prepared Remarks
- Healthy product focus, innovation, and disciplined growth drive strong performance and outlook.NOMDMorgan Stanley Global Consumer & Retail Conference
- Innovation and disciplined investment drive growth and market leadership in frozen food.NOMD2025 dbAccess Global Consumer Conference
Next Nomad Foods earnings date
Q4 202626 Feb, 2027
Nomad Foods
Next Nomad Foods earnings date
Q4 202626 Feb, 2027
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Frequently asked questions
Nomad Foods Limited is a British-based company specializing in the production and distribution of frozen foods. Its portfolio includes a variety of products such as frozen fish, vegetables, ready meals, and desserts, marketed under well-known brands like Birds Eye, Findus, and iglo. Nomad Foods serves retail and foodservice customers across multiple European markets, focusing on convenience, quality, and sustainability in its offerings. The company is headquartered in Feltham, United Kingdom, and its shares are listed on the New York Stock Exchange.