The frozen food group lowers adjusted EPS guidance by 6% due to increased interest expenses from recent refinancing and rising rates.
Nomad Foods reduced its fiscal 2026 adjusted EPS forecast to €1.38-€1.53 from €1.47-€1.62, citing higher interest costs tied to debt restructuring and variable rates. The downgrade reflects a 6% decline at both ends of the range.
Second-quarter adjusted EPS fell €0.01 to €0.39, while sales dropped 3.1% to €724m ($835.3m) on weaker volumes. Organic sales declined 2.9%, within the company’s July guidance of 2.5%-3.5%. Adjusted EBITDA fell 4.3% to €124m, aligning with prior expectations.
Nomad Foods maintained its full-year organic sales forecast of a 2%-5% decline and a 5-10% drop in adjusted EBITDA. The company completed a refinancing in July, which drove the EPS revision.