Sales Performance - Identical sales without fuel increased by 2.3% in Q3 2024[2] - Digital sales grew by 11% in Q3 2024[2] - Total company sales for Q3 2024 were 34.0 billion in Q3 2023, primarily due to the sale of Kroger Specialty Pharmacy and lower fuel sales[8] - Sales for Q3 2024 were 33.957 billion in Q3 2023, representing a 100% sales ratio for both periods[31] - Year-to-date sales for 2024 were 112.975 billion in 2023, maintaining a 100% sales ratio[31] - Identical sales excluding fuel for Q3 2024 increased by 2.3% to 28.818 billion in Q3 2023[44] - Year-to-date identical sales excluding fuel for 2024 increased by 1.2% to 96.397 billion in 2023[44] Profitability Metrics - Operating profit for Q3 2024 was 0.84[2] - Adjusted FIFO operating profit reached 0.98[2] - Operating profit for Q3 2024 was 912 million (2.7% of sales) in Q3 2023[31] - Year-to-date operating profit for 2024 was 1.902 billion (1.7% of sales) in 2023[31] - Net earnings attributable to The Kroger Co. for Q3 2024 were 646 million (1.9% of sales) in Q3 2023[31] - Year-to-date net earnings for 2024 were 1.428 billion (1.3% of sales) in 2023[31] - Net earnings including noncontrolling interests for 2024 is 1.430 billion in 2023[39] - Net earnings attributable to The Kroger Co. for Q3 2024 were 646 million in Q3 2023[54] - Year-to-date net earnings for 2024 were 1,428 million in 2023[54] - Adjusted net earnings excluding adjustment items for Q3 2024 were 698 million in Q3 2023[54] - Year-to-date adjusted net earnings excluding adjustment items for 2024 were 2,500 million in 2023[54] - Net earnings per diluted share for Q3 2024 were 0.88 in Q3 2023[54] - Adjusted net earnings per diluted share excluding adjustment items for Q3 2024 were 0.95 in Q3 2023[54] - Year-to-date adjusted net earnings per diluted share excluding adjustment items for 2024 were 3.42 in 2023[54] - Operating profit for Q3 2024 was 912 million in Q3 2023[63] - Year-to-date operating profit for 2024 was 1,902 million in 2023[63] - Adjusted FIFO operating profit excluding adjustment items for Q3 2024 was 1,022 million in Q3 2023[63] Gross Margin and LIFO Charges - Gross margin for Q3 2024 was 22.9%, with FIFO gross margin rate excluding fuel increasing by 51 basis points[9] - LIFO charges for Q3 2024 were 29 million in Q3 2023[35] - Year-to-date LIFO charges for 2024 were 131 million in 2023[35] Debt and Financial Ratios - Kroger's net total debt to adjusted EBITDA ratio improved to 1.21 from 1.40 a year ago[14] - Total debt increased by 22.601 billion in 2024, compared to 1.814 billion to 11.292 billion in 2023[48] - Adjusted EBITDA for the rolling four quarters ended November 9, 2024, is 8.078 billion for the same period in 2023[49] - Net total debt to adjusted EBITDA ratio improved to 1.21 in 2024 from 1.40 in 2023[49] Cash Flow and Capital Expenditures - Adjusted free cash flow guidance for 2024 remains at 2.7 billion[16] - Net cash provided by operating activities for 2024 is 4.868 billion in 2023[39] - Payments for property and equipment, including lease buyouts, increased to 2.907 billion in 2023[39] - Proceeds from issuance of long-term debt in 2024 is 62.418 billion, up from 49.524 billion, compared to 4.6 – $4.7 billion[16]
Kroger(KR) - 2025 Q3 - Quarterly Results