🧵 1. HelloFresh shares surge 11% on Q2 profit beat and strong ready-to-eat meals growth. Stock up 11% to 5.90 euros as the meal kit firm exceeds profit estimates. #business
🧵 1. HelloFresh shares surge 11% on Q2 profit beat and strong ready-to-eat meals growth. Stock up 11% to 5.90 euros as the meal kit firm exceeds profit estimates. #business
🧵 2. Despite a 23.7% drop in EBITDA compared to last year, HelloFresh reports adjusted earnings of 146.4 million euros in the second quarter of 2024.
🧵 3. Revenues at HelloFresh rise 1.7% to 1.95 billion euros in Q2. The company credits growth to its expanding ready-to-eat meal delivery business segment.
🧵 4. HelloFresh notes a boost in ready meal sales, reporting 50.2% year-on-year growth in this category. An emphasis on this segment offsets declines in meal kit orders.
🧵 5. HelloFresh's group contribution margin decreases to 24.3% in Q2 due to higher ready-to-eat meal production costs. Stock prices have fallen 75% in the past year.
🧵 Read more at: https://www.cnbc.com/2024/08/13/hellofresh-shares-pop-11percent-as-meal-kit-giant-beats-profit-estimates.html