Markets News

Ahold Q3 sales, earnings beat consensus; raises 2020 forecast

AMSTERDAM, Nov 4 (Reuters) - Ahold Delhaize NV, a major operator of supermarket chains in the United States and Europe, reported on Wednesday better-than-expected sales and underlying earnings for the third quarter.

Sales were up 10.1% to 17.8 billion euros ($20.73 billion), with underlying operating income of 813 million euros, up 15.9%, the company said.

Analysts in a company-compiled consensus had expected core profit of 767 million euros on sales of 17.5 billion euros.

Ahold raised its outlook for growth in annual earnings per share to the “high 20% range”. In July, it had said per-share earnings growth would be slightly above 20%. ($1 = 0.8587 euros) (Reporting by Toby Sterling; Editing by Himani Sarkar)