Kroger

The Kroger Co. (Kroger) is one of the largest retailers in the United States, based in Cincinnati, Ohio. It sells food, pharmacy products, fuel and general goods in supermarkets and multi-department stores under many banners, and through eCommerce. It serves more than 11 million customers a day and has more than 400,000 associates. Its other profit lines include Kroger Precision Marketing, a retail media business, and its own brands.

Total sales were $34.6 billion in Q2 2026, the quarter that ended on August 15, 2026. On July 1, 2026, Kroger agreed to buy the grocer Giant Eagle for about $1.65 billion. The deal is not closed. Greg Foran is Chief Executive Officer and David Kennerley is Chief Financial Officer.

590,588,700 shares were outstanding on September 15, 2026. The shares trade on the NYSE in US dollars.

Kroger trades above its intrinsic value because investors pay for steady grocery earnings and a new plan under a new chief executive, even though sales growth is weak. Identical sales without fuel rose only 0.2% in Q2 2026, and Kroger lowered its 2026 range to 0.2% to 0.8%, which includes a drag of about 140 basis points from the Inflation Reduction Act. Profit held up.

Adjusted EPS rose 5% to $1.09, helped by buybacks, and Kroger kept its 2026 adjusted EPS range of $5.10 to $5.30. Costs rose faster than sales, because of wages, health care and lower sales leverage. Kroger is also buying Giant Eagle while it changes its plan.

For the price to hold, sales growth must improve toward the 2029 target of about 3% growth of comparable sales without fuel and pharmacy. Adjusted EPS must also grow at the new target of 7% to 11% a year for fiscal 2027 to 2029. The Q3 report in December 2026 and the Q4 report with 2027 guidance in March 2027 are the next tests.

1. Sep 11, 2026Passed

   Q2 2026 results: adjusted EPS guidanceKroger keeps its 2026 adjusted EPS range of $5.10 to $5.30 passes; a cut fails.Outcome: Kroger kept the range. Adjusted EPS rose to $1.09 from $1.04.
2. Dec 3, 2026 · est.Pending

   Q3 2026 results: identical salesIdentical sales without fuel growth of 0.2% or more and a kept 2026 adjusted EPS range pass; a cut to the EPS range fails.
3. Mar 2027 · est.Pending

   Q4 2026 results: 2027 guidance2027 adjusted EPS guidance that implies growth of 7% or more over 2026 passes; weaker guidance fails.

Every passed and failed checkpoint across all picks

• October 20, 2026At an investor update, Kroger set targets of about 3% comparable sales growth without fuel and pharmacy in 2029, adjusted EBITDA growth of 3% to 6% a year and adjusted EPS growth of 7% to 11% a year for fiscal 2027 to 2029, without Giant Eagle. It kept its 2026 guidance.
• September 28, 2026Kroger priced $650 million of 5.800% senior notes due 2032 and $850 million of 6.200% senior notes due 2036.
• September 11, 2026Kroger reported Q2 2026 results. Identical sales without fuel rose 0.2%, operating profit was $971 million and adjusted EPS was $1.09 against $1.04. It lowered its 2026 identical sales range to 0.2% to 0.8% and kept its adjusted EPS range. It bought back $1.0 billion of shares in the quarter, and about $800 million of its $2 billion authorization is left.

Last earnings

September 11, 2026 (8-K on sec.gov)

Next earnings

Expected about December 3, 2026. The company has not confirmed the date.

• 8-KInvestor disclosureFiled October 20, 2026 · Read it on sec.gov
• 8-KOther company newsFiled October 5, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended Aug 15, 2026Filed September 18, 2026 · kr-20260815x10q
• 8-KEarnings releaseFiled September 11, 2026 · Press release and exhibits
• 8-KChange of directors or officers and Investor disclosureFiled September 2, 2026 · Read it on sec.gov
• 8-KOther company newsFiled July 1, 2026 · Read it on sec.gov
• 8-KChange of directors or officers and Shareholder vote resultsFiled June 26, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended May 23, 2026Filed June 26, 2026 · kr-20260523x10q
• 8-KEarnings releaseFiled June 18, 2026 · Press release and exhibits
• 8-KChange of directors or officersFiled May 27, 2026 · Read it on sec.gov

Every filing on SEC EDGAR (CIK 56873)

• Sales growth may stay weak. Identical sales without fuel rose 0.2% in Q2 2026 and the 2026 range fell to 0.2% to 0.8%. Competitors and discounters pressure prices, and the Inflation Reduction Act lowers pharmacy sales.
• Costs may keep growing faster than sales. The operating, general and administrative rate rose 33 basis points in Q2 2026 because of wages, health care costs and sales deleverage. Shrink and transport costs also rose.
• The Giant Eagle deal adds risk. It costs about $1.65 billion, regulators may ask for store sales, and Kroger must join two businesses while it runs a new plan. The new targets leave Giant Eagle out.
• Opioid claims remain. Kroger recorded $133 million as current and $845 million as long-term liabilities at August 15, 2026. It pays over 11 years and still defends other lawsuits.
• Debt is above the level of last year. Total debt including finance leases was about $17.0 billion at August 15, 2026, and Kroger sold $1.5 billion of new notes on September 28, 2026. Its net total debt to adjusted EBITDA of 1.91 times is below its target range of 2.30 to 2.50.

Kroger had cash and temporary cash investments of $1.7 billion at August 15, 2026. Total debt including finance leases was about $17.0 billion, down $569 million from $17.6 billion at the end of fiscal 2025, after Kroger paid $500 million of 3.5% senior notes. Read more

Yield at the current rate

2.2% (current annual rate, at today’s price)

Dividend yield

2.1% (last 12 months, at today’s price of $69.49)

Paid per share

$1.44 in the last 12 months (4 payments)

Current annual rate

$1.56 ($0.39 × 4 a year)

Payout ratio

87% of the last fiscal year’s earnings (the year that ended January 31, 2026)

Latest ex-dividend date

August 14, 2026, $0.39 per share

Dividends per share by year

From 2020 to 2025, the dividend grew by about 14.5% a year. From 2015 to 2025, the dividend grew by about 13.0% a year.

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.