Nomad Foods Raises 2026 Sales Outlook and Pushes Productivity Beyond €200 Million

Nomad Foods has raised its 2026 organic revenue outlook and introduced a multi-year value-creation plan built around stronger execution, supply-chain productivity and renewed growth across its European frozen-food portfolio.

The owner of brands including Birds Eye, Findus and iglo now expects third-quarter organic revenue growth of at least 1%, which would mark a return to growth. For the full year, it expects organic revenue to decline 2% to 3%, an improvement from its previous forecast of a 2% to 5% decline.

The company is keeping profit guidance unchanged

Nomad continues to expect adjusted EBITDA to decline 5% to 10% in 2026, adjusted earnings per share of €1.38 to €1.53 and adjusted free-cash-flow conversion of at least 90%. The better revenue outlook therefore does not remove the margin and earnings pressure still embedded in the year.

Management says productivity initiatives are now expected to exceed the previously announced €200 million target. The company is simplifying its organization, changing commercial execution and using its pan-European supply chain as a larger source of savings and scale.

The plan is about restoring durable growth, not just one quarter

Nomad is positioning the new plan around consistent organic growth, stronger profitability and capital returns. Management also disclosed that its leadership team has collectively purchased about $10.5 million of Nomad shares in the open market over the past thirteen months.

Those targets remain forward-looking. The important near-term test will be whether the expected third-quarter return to organic growth is followed by better margins and whether productivity gains can be delivered without weakening brands, service levels or manufacturing resilience.