Ahold Delhaize 1Q Net Profit Rose Ahead of Market Expectations, Backs Guidance
May 10 2023 - 2:32AM
Dow Jones News
By Joe Hoppe
Royal Ahold Delhaize NV on Wednesday reported a 2.7% rise in
first-quarter net profit, beating forecasts, and backed its
full-year guidance.
The Dutch grocer made a net profit for the quarter of 561
million euros ($614.9 million) compared with EUR546 million for the
year-earlier period and a consensus of EUR542 million, taken from
the company's website.
Net sales rose to EUR21.62 billion from EUR19.77 billion the
prior year, a rise of 6.3% on a constant-exchange basis. This
compares with a consensus of EUR21.51 billion.
The company primarily attributed its strong earnings performance
to its U.S. operations, which partially offset increased energy
costs in Europe and the hit from strikes in Belgium.
Like-for-like U.S. net sales excluding gas rose 6.2% while
European sales climbed 6.1%, the company said.
Ahold reiterated its 2023 outlook, first disclosed in its 2022
results. It said then it expects an underlying operating margin of
around 4% and roughly flat underlying earnings per share
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
May 10, 2023 02:17 ET (06:17 GMT)
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