Kroger’s stock rises after profit beat offsets sales miss
Kroger Co. lifted its full-year guidance as the grocery-store operator benefits from consumers prioritizing spending on groceries and other essentials https://t.co/aqbQZoRO0R
$KR #Kroger Q2 '24 Earnings Highlights: 🔹 Adj EPS: $0.93 (Est. $0.91) 🟢 🔹 Revenue: $33.91B (Est. $34.08B) 🟡 🔸 Identical Sales (ex-fuel): +1.2% YoY 🔸 Digital Sales: +11% YoY

Kroger has reported its Q2 2024 earnings, showing an adjusted EPS of $0.93, beating the estimated $0.91. However, the company missed revenue estimates, posting $33.91 billion compared to the expected $34.08 billion. Despite the revenue miss, Kroger affirmed its full-year EPS outlook of $4.30 to $4.50, in line with the estimated $4.43. Identical sales, excluding fuel, rose by 1.2% year-over-year, and digital sales increased by 11% year-over-year. The company's stock rose in response to the profit beat. Operating profit for the quarter was $815 million, and Kroger achieved strong adjusted free cash flow. Meanwhile, the FTC is looking to block a proposed merger between Kroger and Albertsons, with concerns about potential price increases.



