Kroger Q2 2024 Earnings: Profit Drops with Flat Sales, Yet Exceeds Estimates

Thursday, 12 September 2024, 12:10

Kroger Q2 2024 earnings show a drop in profit despite steady sales figures. The grocery giant's results unexpectedly beat Wall Street estimates. With net income down to $0.93 per share, the company's performance in this quarter reflects a complex market landscape for grocery stores.
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Kroger Q2 2024 Earnings: Profit Drops with Flat Sales, Yet Exceeds Estimates

Kroger Q2 2024 Performance Overview

The Kroger Co. (NYSE: KR) reported a notable decline in profit for its second quarter of 2024. Despite the drop, the grocery store chain’s earnings surpassed analyst projections.

Sales and Income Metrics

In the July quarter, Kroger’s net sales remained stable at $33.9 billion, a figure largely consistent with the previous year. Meanwhile, identical sales, excluding fuel, rose by 1.2%.

Earnings Analysis

Kroger’s adjusted earnings fell to $0.93 per share, down from $0.96 from the prior year’s Q2. However, this figure was still above market expectations. The unadjusted net earnings reflected a significant turnaround, from a loss of $180 million or $0.25 per share last year to a net income of $466 million in Q2.

Market Implications

Despite the profit drop, Kroger's ability to exceed estimates in a stable sales environment suggests resilience in the competitive landscape of retail and grocery sectors.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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