.September 12, 2024 02:54 PM

Kroger (NYSE:KR) reported strong second-quarter earnings, exceeding expectations and prompting the grocery giant to raise the lower end of its full-year sales outlook. The company’s stock surged over 6% intra-day following the announcement. Kroger delivered adjusted earnings per share of $0.93, surpassing analysts’ predictions of $0.91. Revenue slightly missed estimates at $33.91 billion, but still marked a 1.3% increase year-over-year excluding fuel sales. Identical sales without fuel rose 1.2%, driven by a rise in digital sales and customer traffic, with an 11% increase in digital sales and a 14% increase in e-commerce households. Kroger raised the lower end of its full-year identical sales guidance to 0.75% to 1.75% and reaffirmed its full-year 2025 earnings forecast of $4.30 to $4.50 per share.