Kroger (KR) Tops Q1 EPS by 7c, Reaffirms Guidance

Kroger (NYSE: KR) reported Q1 EPS of $1.51, $0.07 better than the analyst estimate of $1.44. Revenue for the quarter came in at $45.2 billion versus the consensus estimate of $45.21 billion.

GUIDANCE:

Kroger sees FY2024 EPS of $4.45-$4.60, versus the consensus of $4.50.

• Identical sales without fuel of 1.0% – 2.0%, with underlying growth of 2.5% – 3.5% after adjusting for the effect of Express Scripts
• Adjusted net earnings per diluted share of $4.45 – $4.60, including an estimated benefit from the 53rd week of approximately $0.15
• Adjusted FIFO Operating Profit of $5.0 – $5.2 billion
• Effective tax rate of 23%**
• Capital expenditures of $3.4 – $3.6 billion
• Increased
• Adjusted Free Cash Flow of $2.5 – $2.7 billion***

For earnings history and earnings-related data on Kroger (KR) click here.

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