Kroger (NYSE:KR) reported its quarterly earnings results on Thursday late in the day, bringing in a profit that was stronger than what analysts called for, yet KR stock took a step backwards after hours.
Here are six things that investors should know about the Cincinnati, Ohio-based company:
- The retail business said that for its first quarter of its fiscal 2019, it brought in a profit of $772 million, which tallied up to roughly 95 cents per share.
- Kroger added that on an adjusted basis when taking into account non-recurring gains, the business brought in a profit of 72 cents per share.
- The results were slightly stronger than what the Wall Street consensus estimate called for as the average guidance of eight analysts who were polled by the Zacks Investment Research survey was for the brand to amass a profit of 71 cents per share.
- The company added that it tallied up revenue of $37.25 billion for the first three-month period of the current fiscal year.
- This amount was stronger than what Wall Street predicted as four analysts polled by Zacks saw Kroger raking in sales of $36.86 billion.
- For its fiscal 2019, the retailer now sees its profit in the range of $2.15 to $2.25 per share after revealing its results for the quarter, which were positive overall.
KR stock is down about 2% on Thursday afternoon following the news, with the stock now selling at $23.18 per share.
