Kroger Rings-Up Third Quarter Earnings Beat

Andrew Klips  |

Kroger Co. (KR) said Thursday that third-quarter profit increased to $316.5 million, or 60 cents per share, from $195.9 million, or 33 cents per share in the same quarter last year.  Excluding a 14-cent-per-share special gain, earnings tallied 46 cents per share, ahead of Wall Street expectations of 43 cents per share.

Sales during the third quarter at the nation’s largest supermarket chain climbed from $20.59 billion in 2011 to $$21.81 billion this year.  Analysts were predicting revenue of $21.50 billion.

Cincinnati, Ohio-based Kroger, which operates its namesake stores as well as Food 4 Less, Fred Meyer and Dillion’s, said that same-store sales rose 3.2 percent in Q3 versus last year.  Same-store sales, a measure of performance for stores opened at least one year, are viewed as a key barometer of performance.

Meanwhile, Kroger also raised its outlook for its full year earnings.  Excluding special items, the company anticipates earnings between $2.44 to $2.46 a share for the full year, up from a previous estimate of $2.35 to $2.42 a share.  A consensus of analysts expected Kroger to earn $2.41 per share for the year.

Shares of KR are tracking higher Thursday morning on the better-than-expected earnings news.  On the year, shares have risen about 10 percent with today’s action.  Kroger has managed to log gains on the year while large rivals Supervalu and Safeway have fallen 65% and 16%, respectively.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
KR Kroger Company (The) 21.69 0.03 0.14 7,071,096 Trade
APIC Apigee Corporation n/a n/a n/a 0 Trade

Comments

Watchlist

Symbol Last Price Change % Change
AAPL

     
AMZN

     
HD

     
JPM

     
IBM

     

Can the Media Solve the Partisan Conflict?

Andrew McCarthy, Contributing Editor, The National Review; Michael Zeldin, CNN Legal Analyst; Celeste Katz, Senior Political Reporter, Glamour; Silvia Davi, SVP, Contributing Editor, Equities.com; and Doug Simon, CEO, D S Simon Media discuss how the media’s role has shaped the landscape for communicators and what the media is trying to do to reduce discord in society.