HelloFresh reports preliminary Q3 revenue in line with expectations

Meal-kit company HelloFresh on Friday said its preliminary revenue for the third quarter increased 1.9% in constant currency to €1.8 billion ($1.9 billion), in line with market expectations.

The Berlin-based company expects adjusted EBITDA, or adjusted earnings before interest, taxes, depreciation, and amortization, to be €72 million for the quarter, significantly above the market expectations of €42 million.

Looking ahead to the fourth quarter, HelloFresh has cut its revenue growth outlook to a range of 1% to 1.7% on a constant currency basis, from 2% to 8% guided earlier.

Adjusted EBITDA outlook has been raised to €360 million to €400 million from €350 million to €400 million.

"The company plans to maintain its strong focus on disciplined marketing investments also in future quarters. As a consequence, the company is targeting to acquire fewer, but on average more profitable customers," HelloFresh said.

Firm third-quarter results are scheduled to be reported on October 29.