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Kroger Reports on Q4 and FY 2019

03/05/2020
In a press release dated March 5th The Kroger Company (KR) announced results for the 4th Quarter and FY 2019 ending February 1st 2020.

 

The following table summarizes the results for the period compared with the values for the corresponding quarter of the previous fiscal year (Values expressed as US$ x 1,000 except EPS)


Rodney McMullen CEO The Kroger Co.

4th Quarter Ending

2019

2018

Difference (%)

Sales:

$28,893,000

$28,286,000

+2.2

Gross profit:

$6,386,000

$6,331,000

+0.9

Operating income:

$537,000

$391,000

+37.3

Pre-tax Income

Net Income

$390,000

$327,000

$317,000

$259,000

+23.0

+26.3

Diluted earnings per share:

$0.40

$0.32

+25.0

Gross Margin (%)

22.1

22.3

-0.9

Operating Margin (%)

1.9

1.4

+35.7

Profit Margin (%)

1.1

0.9

+22.2

Long-term Debt:

$12,136,000

$12,072,000

+0.5

12 Months Trailing:

     

Return on Assets (%)

3.7

   

Return on Equity (%)

17.7

   

Operating Margin (%)

2.1

   

Profit Margin (%)

1.3

   

Total Assets

$45,164,000

$38,118,000

+18.5

Market Capitalization

$26,900,000

   

For FY 2019 Kroger posted a net profit of $1.66 billion on revenue of $122.29 billion with an EPS of $2.04. Corresponding figures for FY 2018 were a net profit of $3.11 on revenue of $121.85 with an EPS of $3.76.

52-Week Range in Share Price: $ 20.70 to $33.70: 50-day Moving average $28.57

Market Close: March 4th $30.95. Post release, close March 5 th 33.39

Forward P/E 11.8 Beta 0.8


In reviewing results for the 4th Quarter Rodney McMullen, CEO, stated, “We are pleased with our 2019 results and improving trends in our supermarket business. We delivered on our commitments for ID sales without fuel, adjusted FIFO operating profit, and cost savings in addition to generating over $100 million of incremental operating profit through alternative profit streams in 2019. We also delivered strong adjusted free cash flow during the year, consistent with the total shareholder return model outlined at our Investor Day”.

He added “More importantly, the way that we delivered the year is consistent with our long-term financial model and sets us up to connect with customers in a deeper way. Restock Kroger is the right strategic framework to position the company for sustainable growth in the future, continue to improve the core business, and deliver strong total shareholder return. This transformational foundation supports our competitive moats today – Fresh, Our Brands and Personalization - as well as building a seamless ecosystem of the future."