==Kroger (KR) reported earnings on Thur 20 June 24 (b/o)

 

Kroger beats by $0.08, reports revs in-line; reaffirms FY25 EPS guidance; co pauses its share repurchase program

• Reports Q1 (Apr) earnings of $1.43 per share, excluding non-recurring items, $0.08 better than the FactSet Consensus of $1.35; revenues rose 0.2% year/year to $45.27 bln vs the $44.86 bln FactSet Consensus.
  • Co reports Q1 Identical Sales without fuel increased +0.5%.
• Co reaffirms guidance for FY25, reaffirms EPS of $4.30-4.50, excluding non-recurring items, vs. $4.44 FactSet Consensus. Co reaffirms FY25 Identical Sales without fuel of +0.25-1.75%.
• "Kroger is off to a solid start in 2024 led by better-than-expected performance of our grocery business. Kroger is delivering exceptional value at a time when many customers need it more than ever, by providing affordable prices with personalized promotions."
• Co expects to continue to pay its quarterly dividend and expects this to increase over time, subject to board approval. Co has paused its share repurchase program to prioritize de-leveraging following the proposed merger with Albertsons (ACI).