Nomad Foods beats by $0.03, beats on revs; guides FY18 EPS below consensus
- Reports Q3 (Sep) earnings of €0.26 per share, €0.03 better than the S&P Capital IQ Consensus of €0.23; revenues rose 15.7% year/year to €531 mln vs the €514.37 mln S&P Capital IQ Consensus.
- Adjusted EBITDA increased 7% to €84 million.
- Adjusted gross margin declined 190 basis points to 28.4% as positive mix was offset by an unfavorable harvest and the inclusion of the recently acquired acquisitions.
- Co issues downside guidance for FY18, sees EPS of 1.14-1.17 vs. €1.18 S&P Capital IQ Consensus. Raises Adj. EBITDA guidance to upper end of prior guidance range of EUR365-370 mln