logo
  Join        Login             Stock Quote

Kroger (KR) Shares Advance After Upbeat Quarterly Results, Raised FY Forecast

 November 29, 2012 09:48 AM
 


(By Balachander) Kroger Co. (NYSE: KR) shares gained in Thursday early trade after the supermarkets operator raised its 2012 guidance following stronger-than-forecast quarterly earnings.

On an adjusted basis, earnings per share (EPS) were 46 cents, topping market expectations of 43 cents for the three months ended October.

Net earnings jumped nearly 62 percent to $316.5 million, including $74 million benefit from a settlement with Visa and MasterCard and from a reduction in the company's obligation to fund the UFCW consolidated pension fund created in January.

Sales rose 6 percent to $21.81 billion. Excluding fuel, total sales grew 3.7 percent. Wall Street analysts, on average, expected sales growth of 5.10 percent to $21.65 billion.

[Related -The Kroger Co. (NYSE:KR) Q3 Earnings Preview: What To Watch?]

Identical supermarket sales growth, without fuel, was 3.2 percent in the third quarter.

Looking forward for the fourth quarter, Kroger expects identical supermarket sales growth between 3.0 percent and 3.5 percent, excluding fuel.

For the full year, the company now expects adjusted EPS in the range of $2.44 to $2.46 from prior expectations of $2.35 to $2.42, while analysts expect $2.41.

The stock, which has been trading in the 52-week range of $20.98 to $25.44, traded 3.51 percent higher at $25.90 on Thursday.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article image3 US Updates Show Ongoing Growth

Three economic updates today provide more evidence that moderate growth endures for the US. The numbers du read on...

article imageBuy These Solar Stocks Before They Snapback

Sometimes the market hands you a gift. And it would be foolish not to take it. Thanks to general market read on...

article imageInvestors Are Even More Euphoric And Confident.

As noted on the blog last Thursday, even though the market had been down for three straight weeks, last read on...

article imageThe Butterfly Machine

There’s a phenomenon called the Butterfly Effect. One common quotation is “It has been said that something read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.