Nomad Foods (NOMD) FY 2025 Conference September 03, 2025 03:45 PM ET Company ParticipantsStéfan Descheemaeker - CEO & DirectorRuben Baldew - CFO & DirectorOperatorAll right. Good afternoon, everybody. Welcome back for our fireside chat with Nomad Foods. With us today are CEO, Stephane Deschmacher and CFO, Ruben Valdew. Stephane is going to start off with some comments, hand it over to Ruben, and then we'll sit down for some questions as well.Over to you, Stephane, and thanks, Steve, both for being Thank you ...

Nomad Foods (NOMD) FY 2025 Conference September 03, 2025 03:45 PM ET Speaker0All right. Good afternoon, everybody. Welcome back for our fireside chat with Nomad Foods. With us today are CEO, Stephane Deschmacher and CFO, Ruben Valdew. Stephane is going to start off with some comments, hand it over to Ruben, and then we'll sit down for some questions as well.Over to you, Stephane, and thanks, Steve, both for being Thank you very much.Speaker1Andrew? So let me start right off the bat with I think for those wh ...

Colgate-Palmolive Company (CL) FY 2025 Conference September 03, 2025 09:00 AM ET Company ParticipantsLauren Lieberman - Managing DirectorNoel Wallace - Chairman, CEO & PresidentLauren LiebermanOkay. We're going to get started. So next up, we're pleased to welcome Colgate's CEO, Noel Wallace, to the stage. Noel is going to start with a presentation highlighting the success of Colgate's 2025 strategic plan, give us a little peek into a few topics of the 2030 strategy, and then after that, I'll come back on st ...

Reynolds Consumer Products (REYN) FY 2025 Conference September 02, 2025 02:15 PM ET Speaker0So, up, have Reynolds Consumer Products. And joining us are the Company's President and CEO, Scott Huckins and Nathan Lowe, CFO. So, Scott and Nathan, both of you, while not new to Reynolds, have been in your roles as CEO and CFO since January, so relatively new on that front. So, I'd love to hear a little bit about what you both hope to accomplish in your newish roles?Speaker1Sure. Well, first of all, thanks for hav ...

Financial Data and Key Metrics Changes - The company reported net revenues of $818 million for Q1 2025, with retail revenues of $767 million, reflecting a decrease of $28 million compared to Q1 2024 due to retailer destocking and declines in the foam category [13][14] - Adjusted EBITDA was $117 million, down from $122 million in the prior year, primarily driven by lower retail sales [14] - Adjusted earnings per share (EPS) remained unchanged at $0.23 compared to Q1 2024 [14] - The company expects 2025 net revenues to decline low single digits compared to 2024 and adjusted EBITDA in the range of $650 million to $670 million [14][15] Business Line Data and Key Metrics Changes - The company outperformed its categories by two points at retail, capturing share in household foil, waste bags, food bags, and non-foam disposable tableware [7] - Non-retail revenues increased by $12 million [14] - The company introduced new products, including hefty compostable cutlery and Reynolds Kitchen air fryer cups, to drive innovation and connect with younger consumers [7][12] Market Data and Key Metrics Changes - Retail volumes are expected to be down 2% to 5% in Q2 2025 compared to Q2 2024, driven by lower volumes and partially offset by pricing [17] - The company anticipates more pressure on its categories, with lower consumer confidence and retailers managing inventory levels contributing to the challenges [15][31] Company Strategy and Development Direction - The company is focused on driving growth at or above its categories, expanding margins, and investing in a more stable earnings growth model [6][7] - Strategic initiatives include targeted distribution gains, prioritizing larger scale innovation, and reallocating promotional spend to higher return opportunities [11][12] - The company is adapting to a dynamic macro environment by investing in high return programs and leveraging competitive advantages [19][20] Management's Comments on Operating Environment and Future Outlook - Management noted that retailer destocking is expected to be a permanent change rather than a temporary adjustment [23][24] - The company is not altering its strategic direction despite recent tariff announcements and a challenging retail environment, emphasizing the need to control its own destiny through innovation and distribution gains [12] - Management expressed confidence in the innovation pipeline, highlighting new product launches and the potential for growth [62] Other Important Information - The company successfully refinanced its term loan facility, enhancing financial flexibility [19] - The updated segment reporting now reflects the international business based on product category alignment [18] Q&A Session Summary Question: Can you discuss the retailer destocking piece? - Management indicated that retailer destocking is expected to be a permanent change and will flow through the balance of the year [23][24] Question: Can you clarify the strategic expenses related to revenue growth management? - Management explained that strategic investments focus on evaluating revenue growth management, cost out work, and supply chain efficiency [25][26] Question: What is the guidance for category growth? - The guidance now contemplates a greater quantum of pricing due to lower expectations of retail volumes, with retailer destocking being a significant factor [30][31] Question: Can you elaborate on the tariff pressure? - Management noted that direct tariff exposure is a single-digit percentage of overall COGS, with significant indirect impacts from commodities like aluminum [38][39] Question: How has consumption performed exiting the quarter? - Management reported that retail business performed as expected, with destocking impacting the P&L, but March showed better performance than January and February [49][50] Question: How is the innovation pipeline looking for this year? - Management expressed confidence in the innovation pipeline, highlighting new product launches and the potential for growth [62]

Financial Data and Key Metrics Changes - The company reported net revenues of $818 million for Q1 2025, with retail revenues of $767 million, reflecting a decrease of $28 million compared to Q1 2024, primarily due to retailer destocking and declines in the foam category [13][14] - Adjusted EBITDA for the quarter was $117 million, down from $122 million in the prior year, driven by lower retail sales [14] - Adjusted earnings per share (EPS) remained unchanged at $0.23 compared to Q1 2024 [14] Business Line Data and Key Metrics Changes - The company outperformed its categories by two points at retail, capturing market share in household foil, waste bags, food bags, and non-foam disposable tableware [7][8] - Non-retail revenues increased by $12 million, indicating growth in segments outside traditional retail channels [14] Market Data and Key Metrics Changes - The company anticipates net revenues for 2025 to decline by low single digits compared to 2024, with adjusted EBITDA expected in the range of $650 million to $670 million [15][16] - The impact of tariffs is estimated to create cost headwinds of $100 million to $200 million annually, with pricing strategies expected to offset these costs [16][38] Company Strategy and Development Direction - The company is focused on driving growth above category levels, expanding margins, and investing in a stable earnings growth model [6][7] - Strategic initiatives include targeted distribution gains, prioritizing larger-scale innovations, and optimizing supply chain efficiencies [11][12] - The company has updated its segment reporting to better align international business with product categories, reflecting a shift in strategy to enhance growth [18][40] Management's Comments on Operating Environment and Future Outlook - Management noted that retailer destocking is expected to persist throughout the year, impacting revenue expectations [23][24] - The company remains committed to innovation and distribution gains, despite challenges from tariffs and a dynamic retail environment [12][20] - Management expressed confidence in the underlying health of the business and the ability to recover gross profit through pricing and productivity measures [9][10] Other Important Information - The company successfully refinanced its term loan facility, enhancing financial flexibility and supporting strategic priorities [19] - Capital spending is expected to increase by $20 million to $40 million in 2025 to drive growth and margin expansion [19] Q&A Session Summary Question: Can you discuss the retailer destocking impact? - Management indicated that retailer destocking is expected to be a permanent adjustment rather than a temporary phenomenon, affecting the full year outlook [23][24] Question: What is the guidance for category growth? - The guidance reflects lower expectations for retail volumes due to destocking and consumer pressure, with pricing adjustments factored in [30][31] Question: Can you elaborate on tariff pressures? - Direct tariff exposure is a single-digit percentage of overall COGS, with significant indirect impacts from commodities like aluminum [36][38] Question: How is the innovation pipeline looking? - The company is optimistic about its innovation pipeline, with new product launches such as hefty compostable cutlery and additional scents in existing product lines [63][64] Question: What are the pricing mechanics and impact of destocking? - Pricing adjustments typically take two to six months to reflect in retail, and destocking has altered the usual timeline for pricing realization [67][71]