Ahold Delhaize posts Q4 earnings beat, misses on full year

(Sharecast News) - Ahold Delhaize reported higher sales and profit for the 2025 financial year on Wednesday but missed earnings expectations, even as it posted a fourth-quarter underlying operating income beat and raised its dividend. The Netherlands-based supermarket group generated net sales of €92.35bn for the year, broadly in line with the €92.31bn consensus, while net income attributable to common shareholders rose to €2.26bn from €1.76bn.

Earnings per share increased to €2.50 from €1.89.

However, both net income and EPS came in below expectations of €2.36bn and €2.62 respectively.

In the fourth quarter, sales rose to €23.5bn from €23.28bn a year earlier, slightly ahead of analyst estimates of around €23.34bn.

Operating profit climbed 48% year on year to €899m.

Underlying operating income reached €994m, exceeding the €918m expected by analysts, supported by a strong performance in the United States, where the group operates chains including Stop & Shop, Giant, Food Lion and Hannaford, alongside Albert Heijn and Delhaize in the Netherlands and Belgium.

Free cash flow increased 2.2% to €2.6bn in 2025, driven by underlying earnings, though the company expects this to ease to at least €2.3bn in 2026.

The group proposed a final dividend of €0.73 per share, taking the full-year payout to €1.24, up from €1.17 previously.

Looking ahead, Ahold Delhaize said it expected an underlying operating margin of 4% in 2026, compared with 4.2% in the fourth quarter, and guided for mid- to high-single-digit growth in underlying earnings per share at constant exchange rates.

At 0918 CET (0818 GMT), shares in Koninklijke Ahold Delhaize were up 9.28% in Amsterdam at €37.93.

Reporting by Josh White for Sharecast.com.