Kroger (NYSE:KR) is seeing an increase to KR stock following news from its analyst update.
Starting off the Kroger Analyst Day 2019 news is the retail chain’s guidance for 2019. The company says that it continues to expect adjusted earnings per share between $2.15 and $2.25. That’s good news for KR stock as it has the midpoint of its outlook above Wall Street’s 2019 estimate of $2.19.
The positive Kroger Analyst Day 2019 outlook news doesn’t stop in 2019. KR also lays out what it is expecting to happen in 2020. That includes adjusted per-share earnings ranging from $2.30 to $2.40 in 2020. That’s another positive for KR with the low point matching analysts estimates of $2.30 for the year.
Rodney McMullen, Chairman and CEO of Kroger, also provides the following update to investors.
“Restock Kroger sets Kroger up for a stronger future. Momentum is returning to our core grocery business as a result of our customer obsession and renewed intensity around operational excellence, plus the asset-light, margin rich alternative profit streams that enrich our core supermarket business. We look forward to sharing how these come together at Kroger to create a path to consistently strong and attractive total shareholder return.”
Finishing off the Kroger Analyst Day 2019 news is a new share repurchase program. The total for this new program is $1 billion. It will be replacing the current share repurchase program, which has $546 million remaining.
KR stock was up 11.36% when the markets closed on Tuesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.