Kroger (KR) Tops Q1 EPS by 24c

June 18, 2020 7:31 AM EDT

Kroger (NYSE: KR) reported Q1 EPS of $1.22, $0.24 better than the analyst estimate of $0.98. Revenue for the quarter came in at $41.55 million versus the consensus estimate of $40.18 million.

2020 Guidance:

Comments from CFO Gary Millerchip "The COVID-19 pandemic has dramatically changed the outlook for food retail in 2020 and we continue to monitor, evaluate and adjust our plans to address the impact to our business. There are still many unknown factors related to the long-term impact of COVID-19 that could influence our financial results for the remainder of 2020, such as:

continued investments to help our customers and associates,
uncertainty surrounding consumer behavior, restrictions and what will be the new normal, and
potential long-term shift in customers eating more food at home.

In recognition of these factors, it is difficult to predict specific outcomes and as such Kroger is not reaffirming or providing new 2020 guidance. While we expect to exceed the outlook shared in our April 1 business update for identical sales without fuel, adjusted FIFO operating profit, adjusted EPS and adjusted free cash flow, the Company is not able to forecast the extent of such upside for the reasons mentioned above.

Kroger's financial model has proven to be resilient throughout the economic cycle. We remain confident in our business model as well as our ability to generate strong free cash flow and achieve sustainable and attractive total shareholder returns."

For earnings history and earnings-related data on Kroger (KR) click here.

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