Kroger Q1 Earnings Preview: Will KR Deliver Mixed Results?
Kroger Q1 2024 Earnings Preview
The Kroger Co. (NYSE: KR) is anticipated to announce its Q1 2024 results on September 12, at 8:00 am ET. The grocery industry remains competitive, forcing Kroger to rely on discounted pricing strategies to attract consumers amidst high inflation.
Estimates and Comparisons
Market analysts predict a 5% year-over-year decline in adjusted earnings, estimating it at $0.91 per share. Net sales for Q1 are expected to experience a slight rise to $34.07 billion, up from $33.9 billion in the previous year.
Sales Performance
- In Q1 2024, Kroger's net sales stood at $45.27 billion, showing resilience despite inflation pressures.
- Identical sales, excluding fuel, increased 0.5%, indicating consistent demand.
- Projected full-year adjusted EPS ranges from $4.30 to $4.50.
Market Conditions and Future Outlook
Kroger’s ongoing efforts to enhance store traffic have resulted in more value-focused consumers shopping at their stores. Despite these efforts, heightened inflation and interest rates present ongoing challenges.
Antitrust Concerns
The company faces additional headwinds as its merger with Albertsons remains doubtful due to antitrust issues raised by regulators. Kroger plans to address competitive pricing once the deal is finalized.
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.