Kroger (NYSE:KR) shares rose more than 4% intra-day today after the company reported its second-quarter results, with earnings per share (EPS) of $0.96 surpassing the analyst estimate of $0.91. However, the company’s revenue for the quarter amounted to $33.9 billion, slightly below the Street estimate of $34.12 billion.
The CEO of Kroger also acknowledged the persistently challenging business environment expected in the future. Looking ahead, Kroger reiterated its full-year 2024 EPS guidance to be in the range of $4.45 to $4.60, which aligns with their previous guidance and compares to the Street estimate of $4.51. Furthermore, the company anticipates identical sales without fuel to range from 1% to 2%, with underlying growth of 2.5% to 3.5% after adjusting for the impact of Express Scripts.