George Weston's (WN.TO) first quarter adjusted earnings and revenue were both higher, the company said on Tuesday.
The company, which operates through its two reportable operating segments: Loblaw (L.TO) and Choice Properties (CHP-UN.TO), said adjusted earnings, which excludes most one-time items, increased 2.9% to $349 million, or $0.91 per adjusted diluted share, from $339 million, or $0.86 per diluted share, in the previous corresponding quarter. The result was below the consensus analyst estimate of $0.98 per share, according to FactSet.
Revenue advanced 4.2% to $14.64 billion, a tad under the $14.65 billion forecast.
The company will pay a quarterly dividend of $0.32 per share on July 1, to shareholders of record on June 15.
George Weston shares closed down $1.67, to $94.02 on Monday on the Toronto Stock Exchange.