By Helena Smolak


Ahold Delhaize outlined a share buyback program, despite reporting a worse-than-expected fall in third-quarter net profit.

The Dutch grocer on Wednesday said it made a net profit for the third quarter of 372 million euros ($406.7 million), compared with 394 million euros a year ago and a company-provided consensus estimate of 424 million euros.

Its adjusted earnings per share rose 7% to 0.62 euros, above consensus expectations of 0.57 euros.

The company's underlying operating margin increased 0.1 percentage points to 3.9%.

Net sales came in at 22.00 billion euros, slightly above 21.93 billion euros the prior year, topping the company-compiled consensus of 21.91 billion euros.

Ahold Delhaize outlined a 1 billion euros share buyback program, scheduled to start at the beginning of 2025.

It reiterated its full-year guidance, expecting an underlying operating margin of 4% or higher and underlying earnings per share at around 2023 levels at current exchange rates. Its free cash flow is estimated to be around 2.3 billion euros.


Write to Helena Smolak at helena.smolak@wsj.com


(END) Dow Jones Newswires

11-06-24 0224ET