Q: Hello, your opinion please on Metro results, is it buyable now, for a long term hold? Thanks
5i Research Answer:
EPS of $1.10 beat estimates of $1.09. Revenue of $5.11B matched estimates. EBITDA of $481M missed estimates by 2%. The dividend was raised 10.4%. Profit rose 4.4%, adjusted EPS rose 8%. Sales rose 2.9%. Comp. sales rose 1% vs 6.1% last year and below 2.1% estimated. Results reflect decent revenue growth and fairly tight control on costs. We think it remains buyable at 18X earnings, with a rising dividend, relative safety and reasonable growth expectations for 2025.