Kroger Rings-Up Third Quarter Earnings Beat

Andrew Klips |

Kroger Rings-Up Third Quarter Earnings BeatKroger 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) 33.30 -0.06 -0.18 16,221,727
APIC Apigee Corporation n/a n/a n/a 0

Comments

Emerging Growth

H-Source Holdings Ltd.

H-Source Holdings Inc. is a technology company operating within the healthcare industry through its subsidiary, H-Source, Inc. The Company has developed a transaction platform that provides a private, secure and…

Private Markets

XY Find It

Founded by serial entrepreneur Arie Trouw, XY Findables follows a single guiding principle: customers should never lose anything important again. With over 50,000 users around the world, more than 100,000…

Almond Smart Home Router by Securifi

Securifi sells user friendly touch screen routers that also have support for IoT/home automation.Securifi’s Almond revolutionized wireless router setup with its easy to use Touchscreen Interface in 2012. Now our…