The Kroger Co. Earnings: Here’s Why Shares are Up Now
The Kroger Co. (NYSE:KR) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3%.
The Kroger Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 17.65% to $0.60 in the quarter versus EPS of $0.51 in the year-earlier quarter.
Revenue: Rose 4.58% to $22.72 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: The Kroger Co. reported adjusted EPS income of $0.60 per share. By that measure, the company met the mean analyst estimate of $0.60. It beat the average revenue estimate of $22.71 billion.
Quoting Management: “Kroger’s strong second quarter results have us on target to deliver the earnings per share growth we promised for the year,” said David B. Dillon, Kroger’s chairman and chief executive officer. “As we have shown quarter after quarter, our consistent execution of the Customer 1st Strategy deepens customer loyalty, increases sales and creates sustainable shareholder value.”
Key Stats (on next page)…