HelloFresh Beats Estimates as Cost Program Starts to Pay Off

HelloFresh SE’s earnings beat expectations as it begins to reap the benefits of its strategy of prioritizing customer loyalty over volumes.

First-quarter adjusted earnings before interest, taxes, depreciation and amortization reached €23.6 million ($27.7 million), ahead of estimates of €21 million. Average order value grew 4.2% at constant currency, while the revenue decline was not as severe as analysts expected.