Ahold Delhaize: raises targets and share buybacks
(CercleFinance.com) - Alongside its Q3 results, Ahold Delhaize announced a new 1 billion euro share buyback program, which is set to begin in early 2023, with the group increasing its underlying EPS guidance for this year.
The Belgo-Dutch food retailer now expects low double-digit EPS growth for 2022 (rather than mid-single digit growth previously), with it still expecting FCF of around 2 billion euros.
Q3 underlying EPS rose 31.6% to 0.70 euro, with the group's underlying operating margin stable at 4.4%, with sales up 20.8% at 22.4 billion euros (+9.1% at constant exchange rates).
LFL and excluding petrol, sales growth accelerated in both regions compared to Q2, reaching +8.2% in the US and +7.4% in Europe, with market share gains for most brands.
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