Kroger Co. Earnings Cheat Sheet: Rise in Profit

S&P 500 (NYSE:SPY) component Kroger Co. (NYSE:KR) reported net income above Wall Street’s expectations for the first quarter. The Kroger Co. is a retail chain operating food and drug stores, multi-department stores, jewelry stores and convenience stores in the United States.

Don’t Miss: Wall St. Cheat Sheet’s newest Feature Trades of the Month!

Kroger Earnings Cheat Sheet for the First Quarter

Results: Net income for the grocery store rose to $432.3 million (70 cents/share) vs. $374 million (58 cents/share) in the same quarter a year earlier. A rise of 15.6% from the year earlier quarter.

Revenue: Rose 10.9% to $27.46 billion YoY.

Actual vs. Wall St. Expectations: KR beat the mean analyst estimate of 64 cents/share. Estimates ranged from 58 cents per share to 67 cents per share. It beat the average revenue estimate of $26.48 billion.

Quoting Management: “Our Customer 1st strategy is clearly connecting with customers,” said David B. Dillon, Kroger’s chairman and chief executive officer. “We have shown that our focus on people, products, prices and the shopping experience is meaningful to customers through both good and challenging times. As a result, we achieved strong performance across the company.”

Key Stats:

Revenue has risen the past four quarters. Revenue increased 7.6% to $19.93 billion in fourth quarter of the last fiscal year. The figure rose 5.8% in third quarter of the last fiscal year from the year earlier and climbed 6% in second quarter of the last fiscal year from the year-ago quarter.

The company has now beaten estimates the last two quarters. In fourth quarter of the last fiscal year, it topped expectations with net income of 46 cents versus a mean estimate of net income of 44 cents per share.

Competitors to Watch: Safeway Inc. (NYSE:SWY), Whole Foods Market, Inc. (NASDAQ:WFM), SUPERVALU INC. (NYSE:SVU), The Fresh Market Inc (NASDAQ:TFM), Winn-Dixie Stores, Inc. (NASDAQ:WINN), Ingles Markets, Inc. (NASDAQ:IMKTA), Weis Markets, Inc. (NYSE:WMK), Delhaize Group (NYSE:DEG), Ruddick Corporation (NYSE:RDK), Wal-Mart (NYSE:WMT), Target (NYSE:TGT) and Arden Group, Inc. (NASDAQ:ARDNA).

Stock Performance: Shares of KR are up over 4% today.

Don’t Miss Wall St. Cheat Sheet’s newest Feature Trades of the Month!

(Source: Xignite Financials)