Kroger (NYSE:KR) earnings for the grocery chain’s fiscal second quarter of 2019 have KR stock down on Thursday. This comes from its adjusted earnings per share of 47 cents. That’s below Wall Street’s estimate of 49 cents. Revenue of $27.97 billion also doesn’t help by missing analysts’ estimates of $28.18 billion.
Now for a closer look at the most recent Kroger earnings report.
- Adjusted EPS is down 2.08% from 48 cents in the same period of the year prior.
- Revenue is only up slightly from the $27.83 million reported during the fiscal second quarter of 2018.
- Operating profit of $254 million is 60.74% lower YoY from $647 million.
- The Kroger earnings report also includes a net income of $263 million.
- That’s 17.03% worse than the company’s net income of $317 million from the same time last year.
Rodney McMullen, Chairman and CEO of Kroger, says this about the Q2 KR stock results.
“We are using the power of Kroger’s stable and growing supermarket business to create meaningful incremental operating profit through the alternative profit stream businesses, which adds up to a business built for long-term growth that generates consistently attractive total shareholder returns.”
The Kroger earnings report also includes its outlook for 2019. The company is expecting adjusted per-share earnings to range from $2.15 to $2.25. This has the midpoint matching Wall Street’s estimate of $2.20 for the year.
KR stock was down 3.44% as of Thursday afternoon. The stock is only up slightly since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.
