The Kroger Co. (NYSE: KR) reported its second quarter 2023 earnings results today.
Total company sales dropped to $33.9 billion from $34.6 billion in the same period last year, missing consensus estimates of $34.1 billion. Identical sales, without fuel, increased 1%.
Net loss attributable to the Kroger Co. was $180 million, or $0.25 per share, compared to a net income of $731 million, or $1.00 per share, last year. Adjusted EPS amounted to $0.96, beating projections of $0.91.
The company’s earnings results include a $1.4 billion charge related to a nationwide opioid settlement framework.
For the full year of 2023, identical sales, ex-fuel, is expected to grow 1-2% while adjusted EPS is expected to range between $4.45-4.60.
The stock dropped over 2% in premarket hours on Friday following the announcement.
The post Kroger (KR) Q2 2023 Earnings: Key financials and quarterly highlights first appeared on AlphaStreet.
—
Blog powered by G6
Disclaimer! A guest author has made this post. G6 has not checked the post. its content and attachments and under no circumstances will G6 be held responsible or liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption or loss of information) resulting or arising directly or indirectly from your use of or inability to use this website or any websites linked to it, or from your reliance on the information and material on this website, even if the G6 has been advised of the possibility of such damages in advance.
For any inquiries, please contact [email protected]
