Kroger (NYSE:KR) earnings for the fourth quarter of 2019 have KR stock climbing on Thursday morning. This comes after reported revenue of $28.89 billion slightly beat Wall Street’s estimate of $28.83 billion. Also, the company reported adjusted earnings per share (EPS) of 57 cents, which also beat analysts’ expectations of adjusted per-share earnings of 55 cents for the quarter.
Here is what else is worth mentioning from the most recent Kroger earnings report.
- Adjusted EPS was up 18.8% from 48 cents during Q4 2018.
- Revenue for the quarter comes in 2.1% higher compared to $28.29 billion during the same time last year.
- Operating income of $537 million is 37.3% better year-over-year than $391 million.
- The Kroger earnings report also includes a net income of $327 million.
- That’s 26.3% better than $259 million from the fourth quarter of 2018.
Rodney McMullen, chairman and CEO of Kroger, said this about the KR stock earnings report:
“We are pleased with our 2019 results and improving trends in our supermarket business. We delivered on our commitments for ID sales without fuel, adjusted FIFO operating profit, and cost savings in addition to generating over $100 million of incremental operating profit through alternative profit streams in 2019.”
The Kroger earnings report includes reiterated guidance for fiscal year 2020, where the company expects adjusted EPS of $2.30 to $2.40 for the year. Meanwhile, Wall Street is expecting adjusted EPS of $2.19. Kroger also stated that their 2020 outlook “does not include any potential impact related to the Coronavirus.”
KR stock was up almost 8% as of Thursday afternoon.
As of this writing, Nick Clarkson did not hold a position in any of the aforementioned securities.