Heineken Backs 2023 Guidance After 3Q Revenue Rose But Missed Expectations
October 25 2023 - 2:50AM
Dow Jones News
By Michael Susin
Heineken backed its full-year guidance after reporting a
third-quarter revenue increase that was slightly below market
expectations.
The Dutch brewer said adjusted net revenue before exceptional
items and amortization--one of its preferred metrics--rose to 8.015
billion euros ($8.49 billion) in the quarter from EUR7.79 billion
last year.
A company-compiled consensus forecast had seen net revenue
before exceptional items and amortization at EUR8.11 billion.
The company backed its expectations for the full year of stable
to mid-single digit organic growth in operating profit before
exceptional items and amortization.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
October 25, 2023 02:35 ET (06:35 GMT)
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