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Koninklijke Ahold Delhaize profit misses consensus by 31.8% in fiscal Q1

Koninklijke Ahold Delhaize NV said its normalized net income for the fiscal first quarter ended April 19 came to 22 euro cents per share, compared with the S&P Capital IQ consensus estimate of 32 cents per share.

EPS increased 5.0% year over year from 21 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €168.1 million, a decrease of 14.1% from €195.6 million in the year-earlier period.

The normalized profit margin dropped to 1.5% from 2.0% in the year-earlier period.

Total revenue climbed 14.9% year over year to €11.29 billion from €9.82 billion, and total operating expenses increased 15.9% year over year to €10.95 billion from €9.45 billion.

Reported net income decreased 10.2% on an annual basis to €211.0 million, or 27 cents per share, from €235.0 million, or 25 cents per share.