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Kroger fiscal Q1 profit climbs YOY

Kroger Co. said its normalized net income for the fiscal first quarter ended May 24 amounted to 47 cents per share, compared with the S&P Capital IQ consensus estimate of 52 cents per share.

EPS climbed 6.0% year over year from 45 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $481.4 million, a gain from $465.8 million in the year-earlier period.

The normalized profit margin fell to 1.5% from 1.6% in the year-earlier period.

Total revenue rose 9.9% year over year to $32.96 billion from $30.00 billion, and total operating expenses increased 10.0% year over year to $32.03 billion from $29.12 billion.

Reported net income increased from the prior-year period to $496.9 million, or 49 cents per share, from $478.4 million, or 46 cents per share.