Heineken's 3Q Update Is Positive After Recent Volatility -- Market Talk

Dow Jones10-23

0802 GMT - Heineken delivered a positive third-quarter update given the volatile nature of the Dutch brewer's reporting in recent quarters, RBC Capital Markets' James Edwardes Jones writes in a research note. Net revenue before exceptional items and amortization grew 3.3% organically, slightly ahead of a 3.2% forecast from a consensus provided by Heineken, Jones notes. The company also backed its guidance for operating profit before exceptional items and amortization to grow 4% to 8% organically for the year, Jones points out. "This in no way addresses the longer term challenges that we see facing Heineken but is nonetheless very welcome," he says. Heineken shares trade 2.9% higher at 79.20 euros. (mauro.orru@wsj.com)

(END) Dow Jones Newswires

October 23, 2024 04:02 ET (08:02 GMT)

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The company also backed its guidance for operating profit before exceptional items and amortization to grow 4% to 8% organically for the year, Jones points out. \"This in no way addresses the longer term challenges that we see facing Heineken but is nonetheless very welcome,\" he says. Heineken shares trade 2.9% higher at 79.20 euros. 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Heineken shares trade 2.9% higher at 79.20 euros. 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