S&P 500 (NYSE:SPY) component Kroger Co. (NYSE:KR) reported its results for the fourth quarter. Kroger is a retail chain operating food and drug stores, multi-department stores, jewelry stores, and convenience stores in the United States.
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Kroger Co. Earnings Cheat Sheet
Results: Net income for Kroger Co. fell to $279.1 million (51 cents per share) vs. $280.8 million (46 cents per share) a year earlier. This is a decline of 0.6% from the year-earlier quarter.
Revenue: Rose 3.9% to $21.73 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Kroger Co. beat the mean analyst estimate of 49 cents per share. It fell short of the average revenue estimate of $29.13 billion.
Quoting Management: “We are pleased with Kroger’s strong performance in the second quarter,” said David B. Dillon, Kroger’s chairman and chief executive officer. “Kroger shareholders once again benefited from our Customer 1st strategy. Increased customer loyalty and solid cost controls allowed us to grow sales, profitability, and shareholder value.”
The company has now topped analyst estimates for the last four quarters. It beat the mark by 6 cents in the third quarter, by one cent in the second quarter, and by 2 cents in the second quarter.
Looking Forward: Expectations for the first quarter of the next fiscal year have not changed from 42 cents. The average estimate for the fiscal year is $2.38 per share, a rise from $2.32 ninety days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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