Ahold Delhaize Q1 Profit Beats Market Expectations
The supermarket group reported a first-quarter underlying operating income of 896 million euros, surpassing analyst forecasts. While a weak U.S. dollar impacted reported results, core earnings rose 8.1% at constant exchange rates due to continued strength in its American retail chains.
KONINKLIJKE AHOLD DELHAIZE N reported first-quarter underlying operating income rose 0.7% to 896 million euros ($1.05 billion) on Wednesday morning. The result beat the 858 million euros expected by analysts polled by the company. Resilient United States operations are shielding the grocer from currency volatility as the euro strengthens.
Core earnings climbed 8.1% at constant exchange rates compared to the previous year. This growth helped offset a 4.3% decline in reported sales caused by the weak EUR/USD conversion.
