Fri, Jun 28, 8:18 PM (115 days ago)
Kroger's Q1 2024 financial performance shows a mixed picture. Sales increased slightly by 0.2% to $45,269 million, driven by a 0.6% rise in sales to retail customers excluding fuel, while supermarket fuel sales fell by 2.7%. Net earnings attributable to Kroger decreased by 1.6% to $947 million, translating to $1.29 per diluted share, down 2.3% from Q1 2023. Adjusted net earnings per diluted share fell by 5.3% to $1.43. Operating profit dropped 12% to $1,294 million, and adjusted FIFO operating profit decreased by 10.2% to $1,499 million. Cash from operations was $2.3 billion, down 18%. The company returned $210 million to shareholders via dividends. Key uncertainties include the proposed merger with Albertsons and ongoing litigation, including opioid settlements.