Kroger's Mixed Q2 Earnings & $1.4B Opioid Settlement - What You Need To Know
Portfolio Pulse from Shivani Kumaresan
Kroger Co (NYSE:KR) reported a Q2 FY23 sales decline of 2.3% YoY to $33.85 billion, missing the analyst consensus. Adjusted EPS of $0.96 beat the consensus estimate. The company incurred an operating loss of $479 million. Kroger has agreed to pay up to $1.4 billion to settle the majority of opioid claims, which will negatively impact earnings per diluted share of $1.54 on a GAAP basis. The company reaffirmed its FY23 outlook.
September 08, 2023 | 1:26 pm
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Kroger's Q2 FY23 sales missed estimates and the company reported an operating loss. The company's agreement to a $1.4 billion opioid settlement will negatively impact earnings per share.
Kroger's sales missed estimates and the company reported an operating loss, which is likely to negatively impact investor sentiment. Additionally, the company's agreement to a $1.4 billion opioid settlement will negatively impact earnings per share, which could further dampen investor sentiment and put downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100