Kroger reported second-quarter fiscal 2026 adjusted earnings of $1.09 per share, up 4.8% year over year and ahead of the Zacks Consensus Estimate of $1.05, while cutting its full-year identical sales guidance. Total sales of $34,621 million rose 2% from $33,940 million but missed the consensus mark of $34,688 million, and identical sales without fuel edged up just 0.2%, slowing from 3.4% growth a year earlier. The company lowered fiscal 2026 identical sales without fuel guidance to 0.2-0.8% from 1-2%, a range that includes an approximately 140-basis-point unfavorable impact from the Inflation Reduction Act, which reduced second-quarter identical sales by 138 basis points. Kroger maintained its adjusted FIFO operating profit guidance of $5-$5.2 billion and adjusted earnings of $5.10-$5.30 per share, with free cash flow still projected at $2.7-$2.9 billion. Adjusted e-commerce sales rose 20% and Kroger Precision Marketing profit climbed 24%, while the company repurchased $1 billion of shares during the quarter and $1.2 billion year to date, leaving about $800 million under its $2 billion authorization.
Kroger CompanyKroger beat Q2 EPS estimates ($1.09 vs $1.05) but cut full-year identical sales guidance to 0.2-0.8% on IRA headwinds.
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