The Kroger Co. (KR
KR’s Earnings in Brief
-KR’s earnings for the third quarter were $299 million, or 57 cents per share, down from $317 million, or 60 cents per share, a year ago.
-KR reported adjusted earnings of 53 cents per share, which matched analysts’ estimates.
-Revenue came in at $22.5 billion, below analysts’ estimate of $22.77 billion.
-The company said that it expects to see full year earnings between $2.73 and $2.80 per share. On average, analysts expect to see full year earnings of $2.80 per share.
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CEO Commentary
David B. Dillon, Kroger’s chairman and CEO said in a statement: “Our quarterly results show once again that Kroger is uniquely positioned to grow and win in the U.S. food retail industry. Our Customer 1st Strategy resulted in strong sales and earnings growth, lowered costs and helped improve Kroger’s connection with our customers in the third quarter. Every one of our more than 343,000 associates deserves recognition for their individual work to achieve an unprecedented 40 consecutive quarters of positive identical supermarket sales. I know our entire team is hard at work to achieve the 41st.”
KR’s Dividend
KR has not declared its next quarterly dividend, but the company will likely make the announcement in January. KR paid its last dividend of 17 cents per share on December 1.
Stock Performance
Kroger shares were mostly flat during pre-market trading Thursday. The stock is up 59% YTD.
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