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Kroger Beats Q1 Profit, Raises 2025 Sales Outlook Despite Revenue Miss
Strong performance in pharmacy, eCommerce, and fresh food led Kroger to raise its identical sales guidance for the year.
Kroger Co. (NYSE: KR) on Friday reported f iscal first-quarter net income of $866 million, with earnings of $1.29 per share. On an adjusted basis—excluding non-recurring costs and merger-related expenses—the company posted earnings of $1.49 per share, surpassing Wall Street expectations. The average estimate from eight analysts surveyed by Zacks Investment Research was $1.45 per share.
The Cincinnati-based supermarket chain reported revenue of $45.12 billion for the quarter, slightly below the $45.38 billion expected by seven Zacks-surveyed analysts. Identical sales without fuel rose 3.2%.
Operating profit for the quarter was $1.32 billion, while adjusted FIFO operating profit totaled $1.52 billion.
Total company sales of $45.1 billion were slightly lower than the $45.3 billion recorded in the same quarter last year, which included $917 million from Kroger Specialty Pharmacy. Excluding fuel, Kroger Specialty Pharmacy, and adjustment items, total sales increased 3.7% year-over-year.
“Kroger delivered solid first quarter results, with strong sales led by pharmacy, eCommerce and fresh. We made good progress in streamlining our priorities, enhancing customer focus, and running great stores to improve the shopping experience,” said Chairman and CEO Ron Sargent.
During the quarter, Kroger recognized a $100 million impairment charge related to the planned closure of approximately 60 stores over the next 18 months.
Kroger updated its full-year 2025 guidance, raising its forecast for identical sales without fuel to a range of 2.25% to 3.25%. The company reaffirmed its projections for adjusted FIFO operating profit between $4.7 billion and $4.9 billion, adjusted earnings per share in the range of $4.60 to $4.80, and adjusted free cash flow of $2.8 billion to $3.0 billion.
“Our strong sales results and positive momentum give us confidence to raise our identical sales without fuel guidance, to a new range of 2.25% to 3.25%,” said CFO David Kennerley. “While first quarter sales and profitability exceeded our expectations, the macroeconomic environment remains uncertain and as a result other elements of our guidance remain unchanged.”
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