Kroger said total sales for Q2 2024 rose 0.2% from a year earlier, with total sales excluding fuel up 1.3% and identical sales excluding fuel up 1.2%. Supermarket fuel sales fell 8.0%.

1. 01

   Kroger said total sales for Q2 2024 rose 0.2% from a year earlier, with total sales excluding fuel up 1.3% and identical sales excluding fuel up 1.2%. Supermarket fuel sales fell 8.0%.

2. 02

   The company said diluted earnings per share for Q2 2024 were $0.64, compared with a net loss of $(0.25) per diluted share a year earlier. Adjusted earnings per diluted share were $0.93, down 3.1% from $0.96 a year earlier. The company cited lower FIFO operating profit excluding fuel as the main reason for the decline.

3. 03

   Kroger said its gross margin rate for Q2 2024 was 22.56%, higher than 21.79% a year earlier. Operating profit was $815 million (2.4% of sales), compared with an operating loss of $(479) million ((1.4)% of sales) a year earlier.

4. 04

   The company said it generated $3.5 billion of cash from operating activities in the first two quarters of 2024 and used $642 million in financing activities. Total debt as of August 17, 2024 was $12.2 billion, and there were no borrowings under the revolving credit facility.

Key figures

Quarter ended August 17, 2024

Revenue

$33.9B

Operating income

$815M

Net income

$466M

EPS

$0.64

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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