Thursday, September 19, 2013

Kroger Reports Higher Earnings, Matching Estimates; Maintains Outlook (KR)

Food retailer Kroger (KR) posted higher second quarter earnings on Thursday, which matched analysts’ estimates. The company also maintained its outlook for FY2013.

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The Cincinnati, OH-based company posted second quarter earnings of $317 million, or 60 cents per share, up from $279 million, or 51 cents per share, a year ago. On average, analysts expected to see earnings of 60 cents per share.

Total revenue for the quarter was $22.7 billion, up from $21.7 billion a year ago. Analysts expected to see earnings of $22.7 billion.

Looking ahead, the company reaffirmed its FY2013 outlook of earnings between $2.73 and $2.80 per share. KR expects to see sales growth between 8% and 11%. Analysts expect to see earnings of $2.80 per share.

The Kroger shares were up 96 cents, or 2.55%, during Thursday morning trading. The stock is up 46% YTD.

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