First-quarter earnings at The Kroger Co. came up just short of Wall Street estimates even as revenue surpassed expectations.
Company net earnings were $903 million, or $1.46 per diluted share, versus $866 million, or $1.29 per diluted share, in the year-earlier quarter.
Adjusted company earnings were $980 million, or $1.58 per diluted share, versus $996 million, or $1.49 per diluted share, in the year-prior period.
A Zacks Investment Research analyst consensus estimate called for Kroger earnings of $1.59 per adjusted diluted share and revenues of $45.52 billion.
Identical sales, excluding the effect of fuel price volatility, increased 1%, the company reported. Sales were $46.12 billion compared to $45.12 billion in the previous year’s quarter. Operating profit was $1.41 billion versus $1.32 billion in the year-before period.
Kroger reaffirmed its fiscal 2026 guidance for identical sales without fuel gain of 1% to 2% and earnings per share of $5.10 to $5.30.
Kroger CEO Greg Foran said, in announcing the first quarter results, “I joined Kroger because I believe it represents the best opportunity in retail. We serve millions of families every day, in our stores and online. We have the right stores in the right places, unmatched customer insights, and the ability to win. Our focus is clear: to become America’s best grocer. We will measure ourselves against that every day. We are pleased with our first-quarter results, but we know there is more work to do. That is why we are building a culture that is never satisfied, with a constant focus on serving our customers better.”
