Kroger (KR) Research | Aerarium Research

Forward Estimates

EPS Estimates

Current Qtr

$1.58

$1.55$1.66

vs $1.49+6.3%

18 analysts

Next Qtr

$1.13

$1.09$1.20

vs $1.04+9.0%

18 analysts

Current Yr

$5.24

$5.15$5.34

vs $4.85+8.0%

24 analysts

Next Yr

$5.62

$5.37$5.94

vs $5.24+7.3%

21 analysts

Revenue Estimates

Current Qtr

$45.38B

$44.73B$46.04B

vs $45.12B+0.6%

15 analysts

Next Qtr

$34.26B

$33.84B$34.88B

vs $33.94B+0.9%

15 analysts

Current Yr

$149.72B

$147.64B$152.81B

vs $147.64B+1.4%

21 analysts

Next Yr

$153.04B

$150.60B$155.67B

vs $149.72B+2.2%

18 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for KR on EDGAR.

KR filing events and research context
Filed	Item	Context
Mar 31, 2026	business	Kroger operates a diversified retail grocery business comprising 2,697 supermarkets across 35 states and the District of Columbia, integrated with 2,250 pharmacies and 1,731 fuel centers. The company focuses on increasing household penetration through investments in fresh products, eCommerce—specifically pickup and delivery services—and its "Our Brands" private label portfolio, which generated over $39 billion in 2025 sales across premium, value, and organic tiers. A critical growth driver is Kroger’s "alternative profit" strategy, centered on Kroger Precision Marketing. This high-margin business leverages first-party data from 63 million households, where over 95% of transactions are linked to loyalty cards, to provide targeted advertising for consumer-packaged goods companies. Operational risks include a challenging labor market, with over two-thirds of its 403,000 employees covered by collective bargaining agreements, and capital expenditures required for climate-related legislation, specifically the phasedown of hydrofluorocarbon refrigerants. Revenue is generally non-seasonal, though it peaks during major holidays and is susceptible to inclement weather. The company continues to invest in new store growth and food production plants to improve return on invested capital and market share.
Mar 31, 2026	mda	Kroger’s omnichannel strategy leverages Fresh, Our Brands, and eCommerce to drive traffic toward high-margin alternative profit streams, such as Kroger Precision Marketing, which contributed $1.5 billion in operating profit in 2025. Identical sales excluding fuel grew 2.9%, supported by strong performance in Pharmacy, Fresh, and a 16% increase in eCommerce sales. Despite this growth, GAAP net earnings per diluted share fell 58% to $1.54, primarily due to a $2.5 billion impairment charge resulting from the closure of automated fulfillment centers in Wisconsin, Maryland, and Florida, and the cancellation of a North Carolina site. Adjusted net earnings per diluted share rose 9% to $4.85. To optimize the cost structure, the company reduced its corporate administrative team by nearly 1,000 associates and closed approximately 60 stores. Financial risks include rising product cost inflation, reflected in a $157 million LIFO charge, and an estimated $1.2 billion share of underfunded multi-employer pension plans. The company returned $4.3 billion to shareholders through dividends and repurchases, maintaining a net debt to adjusted EBITDA ratio of 1.54 to 1 and targeting a long-term total shareholder return of 8% to 11%.
Mar 31, 2026	risk_factors	Kroger faces significant operational and financial risks, most notably a $2.5 billion impairment charge resulting from an automated fulfillment network that failed to meet operational and financial expectations, leading to facility closures in Wisconsin, Maryland, and Florida. Legal exposures are substantial, including $1.1 billion in recorded opioid settlement liabilities and ongoing litigation with Albertsons following a terminated merger, with Albertsons seeking a $600 million termination fee. Labor disputes in Colorado have further pressured identical sales. The company's balance sheet is impacted by an estimated $1.2 billion share of underfunded multi-employer pension plans, which could trigger significant withdrawal liabilities. Market volatility in meat, seafood, and dairy commodities, alongside fuel price fluctuations, directly affects operating results, while product cost inflation has driven higher LIFO charges. With $17.6 billion in total debt, Kroger remains exposed to interest rate volatility. These factors, combined with the planned closure of approximately 60 underperforming stores, highlight the company's current focus on simplifying its cost structure and optimizing its omnichannel retail model.

Filed

Item

Context

Mar 31, 2026

business

Kroger operates a diversified retail grocery business comprising 2,697 supermarkets across 35 states and the District of Columbia, integrated with 2,250 pharmacies and 1,731 fuel centers. The company focuses on increasing household penetration through investments in fresh products, eCommerce—specifically pickup and delivery services—and its "Our Brands" private label portfolio, which generated over $39 billion in 2025 sales across premium, value, and organic tiers. A critical growth driver is Kroger’s "alternative profit" strategy, centered on Kroger Precision Marketing. This high-margin business leverages first-party data from 63 million households, where over 95% of transactions are linked to loyalty cards, to provide targeted advertising for consumer-packaged goods companies. Operational risks include a challenging labor market, with over two-thirds of its 403,000 employees covered by collective bargaining agreements, and capital expenditures required for climate-related legislation, specifically the phasedown of hydrofluorocarbon refrigerants. Revenue is generally non-seasonal, though it peaks during major holidays and is susceptible to inclement weather. The company continues to invest in new store growth and food production plants to improve return on invested capital and market share.

Mar 31, 2026

mda

Kroger’s omnichannel strategy leverages Fresh, Our Brands, and eCommerce to drive traffic toward high-margin alternative profit streams, such as Kroger Precision Marketing, which contributed $1.5 billion in operating profit in 2025. Identical sales excluding fuel grew 2.9%, supported by strong performance in Pharmacy, Fresh, and a 16% increase in eCommerce sales. Despite this growth, GAAP net earnings per diluted share fell 58% to $1.54, primarily due to a $2.5 billion impairment charge resulting from the closure of automated fulfillment centers in Wisconsin, Maryland, and Florida, and the cancellation of a North Carolina site. Adjusted net earnings per diluted share rose 9% to $4.85. To optimize the cost structure, the company reduced its corporate administrative team by nearly 1,000 associates and closed approximately 60 stores. Financial risks include rising product cost inflation, reflected in a $157 million LIFO charge, and an estimated $1.2 billion share of underfunded multi-employer pension plans. The company returned $4.3 billion to shareholders through dividends and repurchases, maintaining a net debt to adjusted EBITDA ratio of 1.54 to 1 and targeting a long-term total shareholder return of 8% to 11%.

Mar 31, 2026

risk_factors

Kroger faces significant operational and financial risks, most notably a $2.5 billion impairment charge resulting from an automated fulfillment network that failed to meet operational and financial expectations, leading to facility closures in Wisconsin, Maryland, and Florida. Legal exposures are substantial, including $1.1 billion in recorded opioid settlement liabilities and ongoing litigation with Albertsons following a terminated merger, with Albertsons seeking a $600 million termination fee. Labor disputes in Colorado have further pressured identical sales. The company's balance sheet is impacted by an estimated $1.2 billion share of underfunded multi-employer pension plans, which could trigger significant withdrawal liabilities. Market volatility in meat, seafood, and dairy commodities, alongside fuel price fluctuations, directly affects operating results, while product cost inflation has driven higher LIFO charges. With $17.6 billion in total debt, Kroger remains exposed to interest rate volatility. These factors, combined with the planned closure of approximately 60 underperforming stores, highlight the company's current focus on simplifying its cost structure and optimizing its omnichannel retail model.

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