Plus   Neg

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Department of Justice has reached a settlement agreement with a Texas-based Taco Bell franchise owner for immigration-related discrimination against certain employees. The settlement resolves the DOJ's investigation into whether MUY Brands LLC, and a related management company, MUY Consulting Inc., violated the Immigration and Nationality Act. Starbucks is gearing up for the upcoming holiday season by introducing its 2019 holiday flavors in U.S. grocery stores. The launch of the coffee giant's holiday line-up this year includes returning holiday favorites as well as a new item. Customers can now take home products that are making a comeback such as Starbucks Holiday Blend K-Cup and Ground Coffee, Peppermint Mocha Flavored Ground Coffee, Peekay International issued a recall of 7 ounce and 14 ounce packs containing Keshav Dry Apricot food treats as they contain undeclared allergens such as sulfites, according to a statement published by The U.S. Food and Drug Administration. Consumption of the product by those allergic or having severe sensitivity to sulfites could run the risk of serious or life-threatening allergic reactions.
Follow RTT