12:57 PM EST, 03/07/2024 (MT Newswires) -- (Adds share price movement in first, final paragraphs.)

Kroger ( KR ) shares climbed almost 9% to their highest levels in nearly two years on Thursday after posting improved Q4 financial results, with profit exceeding consensus estimates for the period.

Earlier, the grocery chain reported fiscal Q4 adjusted net earnings of $1.34 per diluted share, up from $0.99 a year earlier.

Excluding the 53rd week, adjusted EPS was $1.14 for the quarter.

Analysts polled by Capital IQ expected $1.13.

Sales for the quarter ended Feb. 3 rose to $37.06 billion from $34.82 billion a year earlier. That compares with analyst estimates expecting $37.06 billion.

For 2024, the company said it expects adjusted net earnings of $4.30 to $4.50 per diluted share. Analysts polled by Capital IQ expect $4.31.

Price: 54.98, Change: +4.49, Percent Change: +8.89