Nomad Foods, Europe’s largest branded frozen products company, has reported financial results for the three- and six-month periods ended June 30, 2026. Key operating metrics and financial performance for the second quarter of 2026, when compared to the second quarter 2025, include:
• Reported Revenue decreased 3.1% to €724 million; Organic revenue fell 2.9% with a volume decline of 5.9% and a positive price-mix contribution of 3.0%
• Gross margin increased 130 bps; Adjusted gross margin rose 110 bps
• Profit for the period decreased 15% to €49 million[ Adjusted EBITDA decreased 4.3% to €124 million
• Reported Diluted EPS decreased 5.0% to €0.35; Adjusted EPS decreased 2.5% to €0.39
“The second quarter marked an important step forward for Nomad Foods,” said Dominic Brisby, chief executive officer of the Woking, England-headquartered company . “We secured our price increase, expanded gross margins, restored momentum with key retail partners, and continued to strengthen our organization. Our iconic brands participate in attractive and growing categories, and we are increasing our focus on innovation, renovation, and commercial excellence to better capture that opportunity. While there is more work to do, I am encouraged by the progress we are making and excited about the significant value creation opportunities ahead as we unlock the full value of our brands, supply chain, and pan-European platform. I remain confident in our ability to drive improved performance and create meaningful shareholder value.”
Noam Gottesman, co-chairman and founder of Nomad Foods, added: “The board is encouraged by the progress made during the quarter as the company continues to strengthen its foundation and advance strategic priorities. We are particularly pleased with the actions taken to enhance the leadership team, improve operational efficiency, and restore momentum with key customers.”
Second Quarter 2026 Results Compared to Q2 2025
• Revenue decreased 3.1% to €724 million. Organic revenue fell by 2.9% and was driven by a volume decline of 5.9% partly offset with an improvement in price-mix of 3.0%.
• Adjusted gross profit edged up 0.7% to €209 million. Adjusted gross margin increased 110 basis points to 28.9% due to positive price contribution and continued supply chain productivity.
• Adjusted operating expenses increased 7.8% to €111 million due to the rebuild of the company’s employee performance incentive scheme.
• Adjusted EBITDA decreased 4.3% to €124 million due to the aforementioned factors and Adjusted Profit for the period declined 9% to €55 million.
• Adjusted EPS decreased €0.01 to €0.39 with the decrease in Adjusted Profit for the period offset in part by fewer shares outstanding. Reported Diluted EPS decreased €0.02 to €0.35.
First Six Months of 2026 results Compared to the First Half of 2025
• Revenue decreased 4.5% to €1,439 million. Organic revenue fell by 4.1% and was driven by a volume decline of 5.1% and an improvement in price/mix of 1.0%.
• Adjusted gross profit declined 6.3% to €393 million. Adjusted gross margin decreased 50 basis points to 27.3%, due to supply chain inflation headwinds, partially offset by pricing and supply chain productivity.
• Adjusted operating expenses advanced 3.6% to €227 million due to the rebuild of the company’s employee performance incentive scheme partly offset with a reduction in advertising and promotion expenses.
• Adjusted EBITDA decreased 13.3% to €216 million due to the aforementioned factors. Adjusted Profit for the period declined 23.2% to €88 million.
• Adjusted EPS decreased by €0.12 to €0.62 reflecting the decrease in Adjusted Profit for the period and fewer shares outstanding. Reported Diluted EPS decreased €0.03 to €0.55.
2026 Guidance
In line with previous guidance, for the full year the company continues to expect organic revenue to decline by 2%-5% and Adjusted EBITDA to decline by 5%-10%. Adjusted EPS is now expected to be €1.38-€1.53, versus prior guidance of €1.47-€1.62, due to higher interest expense associated with Nomad Foods’ recently completed refinancing activity and higher variable interest rates. Based on USD/EUR exchange rate as of August 6, 2026, this translates into 2026 Adjusted EPS of $1.59-$1.76. The company also continues to expect full year Adjusted Free Cash Flow conversion of 90% or greater.
