logo
Plus   Neg
Share
Email

Kroger Co. Confirms Earnings Guidance - Quick Facts

The Kroger Co. (KR) reconfirmed its GAAP net earnings guidance range of $3.88 to $4.03 per diluted share for 2018. On an adjusted basis, the net earnings guidance range remains $2.00 to $2.15 per diluted share for 2018. The company provided identical sales guidance, excluding fuel, for the remainder of the year. Kroger expects second half results to be similar to first half results.

Kroger expects an annual digital sales run rate of just over $5 billion at year end 2018, growing to an annual run rate of $9 billion at year end 2019.

The Kroger Co. also reconfirmed its Restock Kroger financial commitments to generate $6.5 billion of Restock free cash flow and $400 million in incremental FIFO operating profit over the three-year-period ending in 2020. Kroger is also exceeding its year-one cost savings goals expected in Restock Kroger.

"We are committed to delivering shareholder value through Restock Kroger. We have a clear path to generate $400 million in incremental FIFO operating profit by 2020 supported by solid early execution of Restock Kroger, including process changes that led to sustainable cost controls," said Rodney McMullen, CEO.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The U.S. Department of Transportation or DOT is scrutinizing the development of Boeing 737 Max jetliners that were involved in two fatal crashes in five months, the Wall Street Journal reported Sunday, citing people familiar with the matter. Shares of Boeing are declining more than 2 percent in the regular trading session following the report. Shares of Worldpay, Inc. were gaining around 12 percent in London after the eCommerce and payments technology company announced its agreement to be merged with FIS, a U.S. financial services technology company. The combination of stock and cash values Worldpay at an enterprise value of approximately $43 billion, including the assumption of Worldpay debt. Germany's two biggest lenders, Deutsche Bank (DB) and Commerzbank (CRZBY.PK) Sunday confirmed they are in discussions to potential merge.
Follow RTT