Kroger Reaffirms FY23 Outlook - Update

(RTTNews) - While reporting financial results for the first quarter on Thursday, supermarket chain Kroger Co. (KR) reaffirmed its adjusted earnings and identical sales outlook for the full-year 2023. Identical sales growth for the first quarter, without fuel, increased 3.5 percent, with underlying growth of 5.0 percent.

For fiscal 2023, the company continues to project adjusted earnings in a range of $4.45 to $4.60 per share on total identical sales growth, without fuel, of 1.0 to 2.0 percent, with underlying growth of 2.5 to 3.5 percent after adjusting for the effect of Express Scripts.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.50 per share on revenues of $150.71 billion for the year. Analysts' estimates typically exclude special items.

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