KR Earnings: Kroger Q1 sales and profit top expectations

Grocery chain The Kroger Co. (NYSE: KR) reported a decline in adjusted profit for the first quarter of 2024, despite a modest increase in net sales. The results exceeded Wall Street’s projections. The Cincinnati-headquartered company reported net sales of $45.27 billion for the April quarter, compared to $45.17 billion for the same period last year. Identical […]

June 20, 2024 1 min read

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Grocery chain The Kroger Co. (NYSE: KR) reported a decline in adjusted profit for the first quarter of 2024, despite a modest increase in net sales. The results exceeded Wall Street’s projections. The Cincinnati-headquartered company reported net sales of $45.27 billion for the April quarter, compared to $45.17 billion for the same period last year. Identical […]
· June 20, 2024

Grocery chain The Kroger Co. (NYSE: KR) reported a decline in adjusted profit for the first quarter of 2024, despite a modest increase in net sales. The results exceeded Wall Street’s projections.

Kroger Q1 2024 earnings infographic

The Cincinnati-headquartered company reported net sales of $45.27 billion for the April quarter, compared to $45.17 billion for the same period last year. Identical sales, without fuel, increased by 0.5%. The top line came in above analysts’ estimates.

Net income, excluding special items, decreased to $1.43 per share in the first quarter from $1.51 per share in the year-ago quarter. On an unadjusted basis, net earnings were $947 million or $1.29 per share in Q1, compared to $962 million or $1.32 per share last year.