KROGER Reports Positive Earnings Results for Q2 of FY2024
September 20, 2023
☀️Earnings Overview
Kroger ($NYSE:KR) reported a decrease of 25.0% in total revenue for the quarter ending July 31, 2023, compared to the same period in the prior fiscal year. This totaled USD 33853.0 million. Net income for the same period was also down significantly from the year before, with a reported total of USD -180.0 million compared to USD 962.0 million in the prior year.
Share Price
On Friday, KROGER reported positive earnings results for the second quarter of their fiscal year 2024. KROGER stock opened at $44.6 and closed at $46.9, up by 3.1% from the previous closing price of 45.5. This is the first time in many quarters that KROGER has seen such a rise in its stock price.
Overall, these financial results are a reflection of the company’s focus on cost efficiency and their commitment to providing customers with exceptional value and convenience. It is a sign that KROGER’s strategy is paying off and they are well-positioned for future growth and success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Kroger. KROGER_Reports_Positive_Earnings_Results_for_Q2_of_FY2024″>More…
| Total Revenues | Net Income | Net Margin |
| 148.04k | 1.63k | 1.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Kroger. KROGER_Reports_Positive_Earnings_Results_for_Q2_of_FY2024″>More…
| Operations | Investing | Financing |
| 6.43k | -3.42k | -1.7k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Kroger. KROGER_Reports_Positive_Earnings_Results_for_Q2_of_FY2024″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 50.2k | 39.6k | 14.78 |
Key Ratios Snapshot
Some of the financial key ratios for Kroger are shown below. KROGER_Reports_Positive_Earnings_Results_for_Q2_of_FY2024″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.7% | -3.3% | 1.8% |
| FCF Margin | ROE | ROA |
| 1.9% | 16.2% | 3.3% |
Analysis
At GoodWhale, we recently conducted an analysis of KROGER‘s wellbeing. The results show that KROGER is a low risk investment in terms of financial and business aspects. We have detected two risk warnings in the company’s income sheet and balance sheet, which are a cause for concern. If you would like to know more about KROGER’s standing, you can register on our website at GoodWhale.com. There, you will be able to check out our analysis tool to get a deeper insight into the company’s financial and business wellbeing. With our platform, you can make informed decisions to help optimize your investments. More…
Peers
The Kroger Co is the largest supermarket chain in the United States. It operates 2,800 supermarkets and multi-department stores in 35 states and the District of Columbia under two dozen local banner names including Kroger, City Market, Dillons, Food 4 Less, Fred Meyer, Harris Teeter, Jay C, King Soopers, QFC, Ralphs and Smith’s. Albertsons Companies Inc is the 2nd largest supermarket chain in the United States with 2,200 stores across 34 states and the District of Columbia. Sprouts Farmers Market Inc is the 3rd largest U.S. supermarket chain with 340 stores across 22 states. Grocery Outlet Holding Corp is the 4th largest U.S. supermarket chain with nearly 300 stores across 23 states.
– Albertsons Companies Inc ($NYSE:ACI)
Albertsons Companies Inc is a grocery store chain in the United States. It is the second-largest grocery store chain in the country after Walmart. The company has a market cap of 14.26B as of 2022 and a Return on Equity of 45.75%. Albertsons was founded in 1939 in Boise, Idaho. The company operates stores under the Albertsons, Safeway, Vons, Pavilions, Randalls, Tom Thumb, and Carrs banners. The company also has a pharmacy chain, under the Albertsons Pharmacy banner.
– Sprouts Farmers Market Inc ($NASDAQ:SFM)
Sprouts Farmers Market Inc is a grocery store chain based in the United States. The company offers a variety of fresh and organic produce, meats, and other groceries. As of 2022, Sprouts Farmers Market Inc has a market cap of 3B and a Return on Equity of 21.14%. The company has been growing steadily in recent years, and its strong financial performance is expected to continue in the future.
– Grocery Outlet Holding Corp ($NASDAQ:GO)
Grocery Outlet Holding Corp is a publicly traded company that owns and operates a chain of discount grocery stores. The company was founded in 1946 and is headquartered in Emeryville, California. As of 2022, the company had a market cap of 3.22 billion and a return on equity of 6.43%. The company’s stores offer a wide variety of food and household products at discount prices.
Summary
Net income reported for the quarter was a net loss of $180 million, compared to a net income of $962 million the year prior. Despite the lower earnings results, stock prices for Kroger moved up the same day of the announcement, suggesting investors remain optimistic in the company’s long-term prospects. Analysts may recommend buying Kroger stock for its healthy dividend yield and potential for growth. Additionally, investors should continue to monitor Kroger’s financials closely and look for further signs of recovery from the pandemic’s impacts on the company.
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