Kroger Q1 adj. EPS $1.51 vs $1.45 YoY; reaffirms FY identical sales & adj. EPS guidance

KROGER CO

2023-Q1 EPS reported $1.32 revenue$45,165,000,000

Identical sales without fuel +3.5% (+5.0% underlying, adjusting for Express Scripts termination).
Revenue $45.2B (+1.3% YoY); FIFO gross margin rate +21 bps ex fuel.
Adjusted FIFO operating profit $1,669M vs $1,601M YoY; net total debt to adj. EBITDA ratio 1.34 (record low).
FY 2023 guidance reaffirmed: identical sales 1-2%, adj. EPS $4.45-4.60; FCF guidance raised to $2.5-2.7B.
Digital sales +15%; delivery sales +30%; share repurchase paused for Albertsons merger de-leveraging.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KROGER CO reported first quarter 2023 results: revenue $45.2 billion, EPS $1.32. Guidance reaffirmed.

Period: first quarter 2023
Revenue: $45.2 billion
EPS: $1.32
Guidance: reaffirmed
Result: reported results

Exact text from the filing

fuel, and a negative effect on the OG&A Rate, excluding fuel and adjustment items. The overall net effect on operating profit was slightly positive. Total company sales were $45.2 billion in the first quarter, compared to $44.6 billion for the same period last year. Excluding fuel, sales increased 3.5% compared to the same period last year. Gross margin was 22.3%

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Source: SEC EDGAR

accession 0001104659-23-071412

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