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Kroger shares are jumping Thursday morning as the grocery chain’s better-than-expected quarterly earnings offset a soft outlook.
The grocery chain said earlier this week that CEO and Chairman Rodney McMullen had resigned after a probe on his personal conduct.
The results are the grocery chain’s first quarterly report since its proposed merger with rival Albertsons was called off in December.
Kroger (KR) shares are jumping Thursday morning as the grocery chain’s better-than-expected quarterly earnings offset a soft outlook.
The company reported mixed quarterly results, with its fourth-quarter adjusted earnings per share (EPS) of $1.14 surpassing consensus estimates from Visible Alpha. Its fourth-quarter revenue of $34.31 billion lagged estimates as did its outlook for 2025 of adjusted EPS of between $4.60 and $4.80.
The results are the grocery chain’s first quarterly report since its proposed merger with rival Albertsons (ACI) was called off in December after a pair of judges sided with the Federal Trade Commissions (FTC) and ruled that the merger would likely result in lower wages and higher prices as competition in the industry would decrease.
The grocery chain said earlier this week that CEO and Chairman Rodney McMullen had resigned after a probe on his personal conduct, with Lead Director Ron Sargent appointed board chair and interim CEO.
Kroger shares are rising more than 2% Thursday, bringing their gains in the past 12 months above 25%.
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