Market Overview

METRO Reports 2018 Second Quarter Results

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METRO Reports 2018 Second Quarter Results

Canada NewsWire

MONTRÉAL, April 24, 2018 /CNW Telbec/ - METRO INC. (TSX:MRU) today announced its results for the second quarter of fiscal 2018 ended March 17, 2018. In a separate press release issued yesterday, the Corporation announced that the Competition Bureau has authorized the acquisition of The Jean Coutu Group.

2018 SECOND QUARTER HIGHLIGHTS

  • Sales of $2,899.0 million, down 0.1%
  • Same-store sales up 1.0% taking into account the Christmas week shift
  • Net earnings of $106.9 million, down 19.3%
  • Adjusted net earnings(1) of $108.1 million, down 5.1%
  • Fully diluted net earnings per share of $0.47, down 16.1%, and down 2.1% on an adjusted(1) basis
  • Declared dividend of $0.18, up 10.8%

2018 FIRST SEMESTER HIGHLIGHTS

  • Sales of $6,010.8 million, up 2.3%
  • Same-store sales up 1.1%
  • Net earnings of $1,406.0 million
  • Adjusted net earnings(1) of $261.5 million, up 3.8%
  • Fully diluted net earnings per share of $6.14
  • Adjusted fully diluted net earnings per share(1) of $1.14, up 7.5%

 


12 weeks / Fiscal Year

(Millions of dollars, except for net earnings per share)

2018


%


2017


%


Change (%)

Sales

2,899.0


100.0


2,902.4


100.0


(0.1)

Operating income before depreciation and amortization and associate's earnings

206.5


7.1


212.0


7.3


(2.6)

Adjusted operating income before depreciation and amortization and associate's earnings(2)

208.1


7.2


212.0


7.3


(1.8)

Net earnings

106.9


3.7


132.4


4.6


(19.3)

Fully diluted net earnings per share

0.47



0.56



(16.1)

Adjusted net earnings(1)

108.1


3.7


113.9


3.9


(5.1)

Adjusted fully diluted net earnings per share(1)

0.47



0.48



(2.1)




24 weeks / Fiscal Year

(Millions of dollars, except for net earnings per share)

2018


%


2017


%


Change (%)

Sales

6,010.8


100.0


5,873.7


100.0


2.3

Operating income before depreciation and amortization and associate's earnings

424.3


7.1


428.8


7.3


(1.0)

Adjusted operating income before depreciation and amortization and associate's earnings(2)

439.3


7.3


428.8


7.3


2.4

Net earnings

1,406.0


23.4


270.5


4.6


419.8

Fully diluted net earnings per share

6.14



1.14



438.6

Adjusted net earnings(1)

261.5


4.4


252.0


4.3


3.8

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