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Kroger Q1 Profit Matches Estimates; Affirms Guidance - Quick Facts

The Kroger Co. (KR) reported first-quarter earnings that matched analysts' estimates. Total sales, excluding fuel and the effect of selling the convenience store business unit, increased 2.0% year-on-year. Looking forward, Kroger Co. confirmed identical sales, operating profit and EPS guidance for 2019.

For the first-quarter, adjusted net earnings were $0.72 per share, compared to $0.73 per share, last year. On average, 23 analysts polled by Thomson Reuters expected the company to report profit per share of $0.72 for the quarter. Analysts' estimates typically exclude special items.

First-quarter total company sales were $37.3 billion, compared to $37.7 billion for the same period last year. Analysts expected revenue of $37.21 billion for the quarter. Identical sales excluding fuel increased 1.5%, for the quarter.

For 2019, the company continues to expect adjusted earnings per share in a range of $2.15 - $2.25. Analysts expect the company to report profit per share of $2.19, for the fiscal year.

Shares of Kroger Co. were up more than 5% in pre-market trade on Thursday.

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