Metro’s first quarter sales and profits top analysts’ expectations

metro
metro

Grocer Metro Inc. reported better than expected earnings and revenue in its latest quarter.

The company says it earned nearly $1.3 billion or $5.67 per share for its first quarter, boosted by the sale of its stake in Alimentation Couche-Tard Inc. to help fund its deal to buy the Jean Coutu Group Inc.

The result compared with a profit $138.1 million or 58 cents per share in the same quarter a year earlier.

OBJ360 (Sponsored)

Sales for the 12 weeks ended Dec. 23 totalled $3.11 billion, up from $2.97 billion.

On an adjusted basis, Metro says it earned $153.4 million or 67 cents per share, up from $138.1 million or 58 cents per share a year ago.

Analysts on average had expected a profit of 59 cents per share and $3.02 billion in revenue, according to Thomson Reuters.

Get our email newsletters

Get up-to-date news about the companies, people and issues that impact businesses in Ottawa and beyond.

By signing up you agree to our Terms of Use and Privacy Policy. You may unsubscribe at any time.

Sponsored

Sponsored

EVENT ALERT: Mayor's Breakfast with Ontario Finance Minister on Wednesday, Dec. 4 @ City Hall