Heineken Takes Step Toward Restoring Confidence With No-Surprises Update -- Market Talk

Dow Jones10-24

1525 GMT - Heineken's third-quarter update was very much in line with expectations and marks a step toward rebuilding investors' confidence, Bank of America's Andrea Pistacchi says in a research note. The Dutch brewer reported a 0.7% rise in volumes and a 3.3% increase in organic revenue. It also reiterated its full-year guidance. While this wasn't the most exciting quarter, there were no surprises, BofA says. Heineken had a few volatile earnings reports recently and its third-quarter performance could help it rebuild a track record of more consistent results, the analyst says. This could lead to a share recovery over the coming year, according to BofA. Shares rise 1.1% to 79.84 euros. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

October 24, 2024 11:25 ET (15:25 GMT)

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