By Ian Walker

 

Koninklijke Ahold Delhaize NV on Wednesday reported a market beating third-quarter net profit and raised its full-year guidance.

The Dutch grocer made a net profit for the third quarter of 522 million euros ($605.3 million) compared with EUR68 million for the year-earlier period and a consensus of EUR496 million taken from the company's website and based on 14 analysts' forecasts.

Net sales rose to EUR18.55 billion from EUR17.83 billion the prior year a rise of 4.6% on a constant-exchange basis. This compares with a consensus of EUR18.02 billion, according to a company-compiled consensus of 21 analysts' estimates.

Like-for-like U.S. net sales excluding gas rose 2.9% but European sales slipped 0.2%.

Quarterly underlying earnings per share--which strips out exceptional and other one-off items--rose to 53 European cents from 50 cents, up 8.1% on a constant-exchange basis.

The company said it expects to report underlying EPS growth in the low-to mid-20s range for the year compared with 2019. It had previously forecast high-teen full-year growth.

 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

November 10, 2021 02:14 ET (07:14 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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