KROGER Reports Q2 2024 Earnings Ahead of Schedule on July 31, 2023
September 10, 2023
🌥️Earnings Overview
On July 31, 2023, KROGER ($NYSE:KR) reported the earnings results for the fiscal second quarter of 2024. Compared to the same quarter in the previous year, their total revenue dropped by 25.0%, falling to USD 33853.0 million. Additionally, net income fell drastically, going from a profit of USD 962.0 million to a loss of USD 180.0 million.
Stock Price
On July 31, 2023, KROGER reported its second quarter fiscal 2024 earnings ahead of schedule and the results were positive. On Friday, KROGER stock opened at $44.6 and closed at $46.9, up by 3.1% from its prior closing price of 45.5. Overall, this news was welcomed by analysts and investors alike as KROGER continues to show resilience despite the economic downturn caused by the pandemic.
The company also stated that they are continuing to focus on their digital initiatives in order to further increase customer satisfaction and loyalty. With this kind of momentum, KROGER can expect to see sustained growth in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Kroger. KROGER_Reports_Q2_2024_Earnings_Ahead_of_Schedule_on_July_31_2023″>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_Q2_2024_Earnings_Ahead_of_Schedule_on_July_31_2023″>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_Q2_2024_Earnings_Ahead_of_Schedule_on_July_31_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 50.2k | 39.6k | 13.99 |
Key Ratios Snapshot
Some of the financial key ratios for Kroger are shown below. KROGER_Reports_Q2_2024_Earnings_Ahead_of_Schedule_on_July_31_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.7% | -3.3% | 1.8% |
| FCF Margin | ROE | ROA |
| 1.9% | 16.7% | 3.3% |
Analysis
At GoodWhale, we have conducted an analysis of KROGER‘s wellbeing and are pleased to report a low risk investment in terms of financial and business aspects. According to our Risk Rating, KROGER is a low risk investment for investors. However, we have detected two risk warnings in the income sheet and balance sheet of KROGER. To get a detailed analysis of these risk warnings, we invite any interested parties to register on goodwhale.com and access our comprehensive analysis. 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
Despite the weak results, the stock price moved up on the news, likely due to investors’ expectations of a strong recovery in the coming quarters. Investors should consider Kroger‘s potential for long-term growth and its attractive dividend yield when making their investing decisions. Furthermore, they should watch for any developments in Kroger’s strategic initiatives and cost reduction efforts that could help boost its profitability over the coming years.
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