Kroger said net earnings per diluted common share for Q1 2024 were $1.29, down 2.3% from $1.32 a year earlier, and adjusted net earnings per diluted share were $1.43, down 5.3% from $1.51.

1. 01

   Kroger said net earnings per diluted common share for Q1 2024 were $1.29, down 2.3% from $1.32 a year earlier, and adjusted net earnings per diluted share were $1.43, down 5.3% from $1.51.

2. 02

   The company said operating profit for Q1 2024 was $1.3 billion, or 2.9% of sales, down from $1.5 billion, or 3.3%, a year earlier. It cited higher OG&A expenses as a percentage of sales, lower fuel operating profit and a lower FIFO gross margin rate as factors.

3. 03

   The company said cash provided by operating activities for Q1 2024 was $2.3 billion, down from $2.9 billion a year earlier. It said cash and temporary cash investments were $2.8 billion as of May 25, 2024.

4. 04

   Kroger said that during Q1 2024 it entered into a definitive agreement to sell its Kroger Specialty Pharmacy business to CarelonRx, a subsidiary of Elevance Health, for approximately $485 million. The company said it expects the sale to be completed in the second half of 2024.

Key figures

Quarter ended May 25, 2024

Revenue

$45.3B

Operating income

$1.3B

Net income

$947M

EPS

$1.29

Operating cash flow

$2.3B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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