Kroger Q3 adjusted EPS $0.98 beats prior year; narrows FY2024 guidance higher

KROGER CO

2024-Q3 EPS reported $2.77 revenue$112,815,000,000

Identical sales without fuel up 2.3%; total sales $33.6B down from $34.0B due to pharmacy sale and lower fuel.
Adjusted FIFO operating profit $1,017M vs $1,022M prior year; operating profit $828M vs $912M.
Narrows FY2024 guidance: identical sales 1.20%-1.50% (prev 0.75%-1.75%), adjusted EPS $4.35-$4.45 (prev $4.30-$4.50).
Closed sale of specialty pharmacy for $464M on Oct 4, 2024; reduced sales by ~$340M in Q3.
Net total debt/adjusted EBITDA ratio improved to 1.21 from 1.40 a year ago.

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