Kroger: Fiscal 2Q Earnings Snapshot
CINCINNATI (AP) – Kroger Co. (KR) on Thursday reported fiscal second-quarter profit of $508 million.
The Cincinnati-based company said it had profit of 62 cents per share. Earnings, adjusted for non-recurring gains, came to 41 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.
The supermarket chain posted revenue of $27.87 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $27.82 billion.
Kroger expects full-year earnings in the range of $2 to $2.15 per share.
Kroger shares have climbed 16 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 8 percent. The stock has risen 47 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KR at https://www.zacks.com/ap/KR
Copyright © 2018 The Washington Times, LLC.