The following is a summary of the Metro Inc. (MTRAF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 total sales reached $6.65 billion, a 3.5% increase from last year.

• Same-store sales up: 2.4% in food and 5.2% in pharmacy.

• Operating expenses were $681.7 million, up 4.8% from last year.

• EBITDA totaled $620.2 million, representing 9.3% of sales.

• Adjusted net earnings were $305 million; a 3.1% decrease from last year.

• Repurchased 6,045,000 shares for $430 million under normal course issuer bid program.

Business Progress:

• Opened six Super C stores and conducted major expansions and renovations of 7 stores.

• Launched Moi Rewards Program in Quebec with over $65 million points redeemed.

• New automated fresh and frozen facility in Terrebonne is now fully operational.

• Final phase of Toronto automated fresh facility launched with gradual transfer of fresh categories.

Opportunities:

• Food basket inflation continues to decelerate offering potential for increased consumer spending.

• Expanding Moi Rewards Program into Ontario to potentially boost customer engagement and sales.

Risks:

• Higher operating expenses and net financial costs primarily due to new distribution center start-ups and higher third-party e-commerce fees.

• Continuation of food inflation and competitive market pressures.

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