Kroger earnings for the fourth quarter of 2018 have KR stock falling hard on Thursday.
Kroger (NYSE:KR) reported earnings per share of 48 cents for the fourth quarter of the year. This is a drop from the company’s earnings per share of 63 cents from the same time last year. Unfortunately for KR stock, this also has it missing Wall Street’s earnings per share estimate of 52 cents for the quarter.
Net income reported in the Kroger earnings release for the fourth quarter of 2018 comes in at $259 million. This is down from the company’s net income of $854 million reported in the fourth quarter of 2017.
The Kroger earnings report for the fourth quarter of the year also includes operating income of $391 million. The retail company’s operating income from the same period of the year prior was $550 million.
The most recent Kroger earnings report also has the company bringing in revenue of $28.09 billion. This is a decrease from the company’s revenue of $31.03 billion reported in the fourth quarter of the previous year. It was also a blow to KR stock by coming in below analysts’ revenue estimate of $28.38 billion for the period.
More bad news for KR stock comes from the outlook for the full year of 2018 in the Kroger earnings report. The company is expecting earnings per share for the year to range from $2.15 to $2.25. This will have it missing Wall Street’s earnings per share estimate of $2.26 for the year.
KR stock was down 12% as of Thursday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.