Q3 2025 Metro Inc Earnings Call Transcript
Key Points
- Metro Inc (MTRAF) reported a 3.3% increase in total sales, reaching $6.9 billion for the third quarter.
- The company achieved a 5.7% year-over-year growth in EBITDA, with a margin improvement of 20 basis points.
- Adjusted net earnings rose by 8.8% to $332 million, with adjusted EPS increasing by 12.6% to $1.52.
- Pharmacy same-store sales grew by 5.5%, driven by a 6.2% increase in prescription sales.
- Online sales saw a significant growth of 14%, supported by the expansion of delivery services and partnerships with platforms like DoorDash.
- Inflationary pressures and operational expenses related to new distribution centers offset some cost benefits.
- The competitive environment intensified, with increased promotional activity and new store openings affecting market dynamics.
- There is ongoing pressure from vendor price increase requests, particularly related to tariffs, affecting cost management.
- The transition to automated distribution centers has led to increased recurring expenses in SG&A.
- The Buy Canada movement, while still positive, is decelerating in terms of growth compared to previous periods.
Good morning, ladies and gentlemen, and welcome to the Metro Inc 2025 third-quarter results conference call. (Operator Instructions) Also note that this call is being recorded on Wednesday, August 13, 2025.
And I would like to turn the conference over to Sharon Kadoche, Director, Investor Relations and Corporate Finance. Please go ahead.
Good morning, everyone, and thank you for joining us today. Our comments will focus on the financial results of our third quarter, which ended on July 5. With me today is Mr. Eric La Fleche, President and CEO; Nicolas Amyot, Executive VP and CFO; Marc Giroux, Chief Operating Officer; and Jean-Michel Coutu, President of the Pharmacy division.
During the call, we will present our third quarter results and comment on its highlights. We'll then be happy to take your questions. Before we begin, I would like to remind you that we will use in today's discussion different statements that could be construed as forward-looking information.
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