Kroger: Fiscal 2Q Earnings Snapshot
CINCINNATI (AP) _ Kroger Co. (KR) on Thursday reported fiscal second-quarter earnings of $297 million.
On a per-share basis, the Cincinnati-based company said it had net income of 37 cents. Earnings, adjusted for non-recurring costs, were 44 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The supermarket chain posted revenue of $28.17 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $28.4 billion.
Kroger expects full-year earnings in the range of $2.15 to $2.25 per share.
Kroger shares have fallen 7% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. The stock has fallen 19% in the last 12 months.