Kroger reports Q1 adjusted EPS $1.43, consensus $1.34

Reports Q1 revenue $45.3B, consensus $45.04B. Identical Sales without fuel increased 0.5%. Comments from Chairman and CEO Rodney McMullen: “Kroger is off to a solid start in 2024 led by better-than-expected performance of our grocery business. Kroger is delivering exceptional value at a time when many customers need it more than ever, by providing affordable prices with personalized promotions. We appreciate our associates who are elevating the customer experience and improving store execution. Together, this is growing households and increasing customer visits. The long-term investments we have made to strengthen and diversify our model enables us to manage economic cycles and gives us the confidence to deliver on our full year outlook. By delivering value for customers and investing in our associates, Kroger remains well-positioned to generate attractive and sustainable returns for our shareholders.”