Kroger Reports Q2 With New Management's Turnaround Under Review

Kroger reported second-quarter fiscal 2026 results before the opening bell Friday, with a conference call scheduled for 8:00 a.m. Eastern. Analysts had projected revenue of roughly $34.68 billion, a 2.2% increase from the prior-year period, and adjusted earnings of $1.05 per share, about 1% above last year.

The most closely watched line is identical sales excluding fuel, which management had guided toward roughly 1% for the quarter. For the full year, Kroger has maintained guidance of 1% to 2% identical sales growth excluding fuel, adjusted FIFO operating profit of $5.0 billion to $5.2 billion, and earnings of $5.10 to $5.30 per share.

The quarter serves as an early scorecard for the company's new management team and its push to regain market share while holding costs down. Grocers have spent 2026 absorbing elevated beef and protein costs, and the results offer a read on how much of that inflation is being passed through to shoppers versus absorbed in margin.