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Shares of Dutch brewer Heineken have been fairly flat since my last piece, with the market underwhelmed by first half results. The company missed consensus on most key lines, while fresh full-year guidance was also somewhat lackluster relative to analyst expectations. Heineken still has an attractive beverage portfolio, and its geographic exposure skews to developing markets. This should support reasonable long-term revenue growth.
Heineken N.V. (OTCQX:HEINY) Q2 2024 Earnings Conference Call July 29, 2024 8:00 AM ET Company Participants Raoul-Tristan Van Strien - Director, IR Dolf van den Brink - CEO Harold Broek - CFO Conference Call Participants Edward Mundy - Jefferies Olivier Nicolai - Goldman Sachs Sanjeet Aujla - UBS Mitch Collett - Deutsche Bank Andrea Pistacchi - Bank of America Merrill Lynch Trevor Stirling – Bernstein Raoul-Tristan Van Strien Good afternoon, everyone.
Heineken's stock price is down by over 7% after releasing 2024 half-year results. The company released soft H2 EBIT guidance after delivering a plus 12.5% in H1. Heineken is set to increase marketing expenses. The CR Beer impairment and the adverse stock price reaction offer excellent momentum to increase the position.
Heineken CEO Dolf Van Den Brink discusses the brewer's first-half results and its plans for the rest of the year.
The Dutch brewery also said low consumer confidence and market volatility contributed to the disappointing earnings.
Heineken grew in Q2, but failed to meet analyst expectations and took a write-down in China. The global beer industry is still in a slump from weak consumer sentiment.
Heineken N.V. (EURONEXT:HEIA) shares have plummeted close to 8% today after the Dutch brewer saw its sales volumes come in weaker-than-expected for the first half.
Heineken shares slumped on Monday as the Dutch brewer took a €874 million ($948 million) write-down on its holding of a Chinese brewery, as it increased spending more than analysts expected.
Operting profit showed organic growth of 12.5%, below a company-compiled consensus forecast of 13.2%.
Dutch brewer Heineken reported a 12.5% rise in half-year operating profit on Monday after an anticipated boost from sporting events in June and July did not materialise, missing analyst estimates and sending its shares down 7%.