KR - Kroger: Our Takeaways From The Quarterly Earnings Report
2024-06-25 14:00:35 ET
Summary
- Kroger beat analyst estimates in the prior quarter, with a 0.5% sales increase and a 5% decline in adjusted EPS.
- The company maintained its full year 2024 guidance, expecting low single digit sales growth and strong cash flow generation.
- Kroger aims to increase quarterly dividends and has paused share buybacks for growth and de-leveraging initiatives, making it an attractive investment option.
- We reiterate our previous "buy" rating.
The Kroger Co. ( KR ) operates as a food and drug retailer in the United States. We first wrote about the company back in June 2022 , initiating a “buy” rating, as we have claimed that KR may not be too affected by low consumer confidence levels. Later, in October 2022 , we reiterated our bullish thesis due to the firm’s strong financial performance. Our last article about KR has been published in April 2023 , which again reiterated our bullish view on the firm....
Kroger: Our Takeaways From The Quarterly Earnings Report