- Kroger press release ( NYSE: KR ): Q4 Non-GAAP EPS of $0.99 beats by $0.09 .
- Revenue of $34.82B (+5.4% Y/Y) misses by $70M .
- FY2023 Outlook : Identical sales without fuel of 1.0% – 2.0%, with underlying growth of 2.5% – 3.5% after adjusting for the effect of Express Scripts; Adjusted net earnings per diluted share of $4.45 - $4.60 vs. consensus of $4.22; Adjusted FIFO Operating Profit of $5.0 - $5.2 billion; Effective tax rate of 23%; Capital expenditures of $3.4 - $3.6 billion; Adjusted Free Cash Flow of $2.3 - $2.5 billion.
- CFO comment: "Kroger's 2022 results demonstrate the strength of our value creation model. In 2023, we expect to build on this momentum and deliver revenue and EPS growth on top of the record results achieved over the past three years. We expect to grow revenue by continuing to invest in our customers through competitive pricing and personalization, fresh products and a better shopping experience. Building on our significant investments over the past four years, we will also continue to increase associate wages. We will fund these investments through product mix improvements, cost saving initiatives and growth in our alternative profit businesses."
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Kroger Non-GAAP EPS of $0.99 beats by $0.09, revenue of $34.82B misses by $70M