NOMD - Nomad Foods fueled higher by reaffirmed guidance

Nomad Foods Limited (NYSE:NOMD) shares lifted off on Wednesday after exceeding earnings expectations. The British-American frozen foods distributor reported a beat on top and bottom lines in its first quarter earnings release, coming in above recently lowered estimates. While margins and profits were pulled in from the prior year amid supply chain and inflation headwinds, management nonetheless remained committed to full-year targets. "We have rapidly adjusted to inflationary changes in the market and plan to recoup rising input costs through more price increases this year while remaining hedged on key inputs for 2022 and beyond,” CEO Stéfan Descheemaeker said. “We continue to be on track to deliver our €2.30 EPS target for 2025." Nomad Foods (NOMD +10.2%) guidance also expects high-single-digit revenue growth and stronger performance from recently integrated acquisitions. Co-chairman Noam Gottesman added that the company continues to gain market share, allowing for flexibility in supply chain investment as sales

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Nomad Foods fueled higher by reaffirmed guidance