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The Kroger Co. (KR - Free Report) , one of the largest grocery retailers, came out with first-quarter fiscal 2018 results, wherein adjusted earnings of 73 cents per share surpassed the Zacks Consensus estimate of 63 cents and increased 25.9% year-over-year.
Kroger updated fiscal 2018 guidance. The company raised the lower end of the prior fiscal 2018 earnings per share guidance of $1.95–$2.15 to $2.00-$2.15. The Zacks Consensus Estimate is pegged at $2.06 per share, which is well within the guided range.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has witnessed one downward revision over the past 7 days. In the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 2.3%.
Revenues: Kroger generated total revenue of $37,530 million that increased 3.4% year over year and also came above the Zacks Consensus Estimate of $37,212 million. The company’s identical supermarket sales, without fuel, rose 1.4%.
Kroger envision identical supermarket sales (excluding fuel) to grow in the range of 2% to 2.5% from the earlier provided 1.5% to 2.0% in fiscal 2018.
Stock Movement: Kroger’s shares are up nearly 8% during pre-market trading hours following the earnings release.
Check back later for our full write up on Kroger’s earnings report!
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Image: Bigstock
Kroger (KR) Tops Q1 Earnings & Sales Estimates, Updates View
The Kroger Co. (KR - Free Report) , one of the largest grocery retailers, came out with first-quarter fiscal 2018 results, wherein adjusted earnings of 73 cents per share surpassed the Zacks Consensus estimate of 63 cents and increased 25.9% year-over-year.
Kroger updated fiscal 2018 guidance. The company raised the lower end of the prior fiscal 2018 earnings per share guidance of $1.95–$2.15 to $2.00-$2.15. The Zacks Consensus Estimate is pegged at $2.06 per share, which is well within the guided range.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has witnessed one downward revision over the past 7 days. In the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 2.3%.
The Kroger Co. Price, Consensus and EPS Surprise
The Kroger Co. Price, Consensus and EPS Surprise | The Kroger Co. Quote
Revenues: Kroger generated total revenue of $37,530 million that increased 3.4% year over year and also came above the Zacks Consensus Estimate of $37,212 million. The company’s identical supermarket sales, without fuel, rose 1.4%.
Kroger envision identical supermarket sales (excluding fuel) to grow in the range of 2% to 2.5% from the earlier provided 1.5% to 2.0% in fiscal 2018.
Zacks Rank: Currently, Kroger carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Stock Movement: Kroger’s shares are up nearly 8% during pre-market trading hours following the earnings release.
Check back later for our full write up on Kroger’s earnings report!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
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