The Kroger Co. (KR - Free Report) , one of the largest grocery retailers, came out with first-quarter fiscal 2016 results, wherein earnings of 70 cents per share beat the Zacks Consensus Estimate by a penny and surged 12.9% from the prior-year quarter.
Management repeated its fiscal 2016 guidance. The company expects fiscal 2016 earnings per share in the range of $2.19–$2.28 per share.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2016 and 2017 has been unchanged over the past 30 days. In the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 7.3%.
Revenues: Kroger generated total revenue of $34,604 million that increased 4.7% year over year but came below the Zacks Consensus Estimate of $34,663 million. The company’s identical supermarket sales, without fuel, grew 2.4%, marking 50th consecutive quarter of growth.
Kroger envisions identical supermarket sales (excluding fuel) growth of 2.5% to 3.5% for fiscal 2016.
Zacks Rank: Currently, Kroger carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.
Stock Movement: Kroger’s shares are up nearly 3.2% 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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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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The Kroger Co. (KR - Free Report) , one of the largest grocery retailers, came out with first-quarter fiscal 2016 results, wherein earnings of 70 cents per share beat the Zacks Consensus Estimate by a penny and surged 12.9% from the prior-year quarter.
Management repeated its fiscal 2016 guidance. The company expects fiscal 2016 earnings per share in the range of $2.19–$2.28 per share.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2016 and 2017 has been unchanged over the past 30 days. In the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 7.3%.
Revenues: Kroger generated total revenue of $34,604 million that increased 4.7% year over year but came below the Zacks Consensus Estimate of $34,663 million. The company’s identical supermarket sales, without fuel, grew 2.4%, marking 50th consecutive quarter of growth.
Kroger envisions identical supermarket sales (excluding fuel) growth of 2.5% to 3.5% for fiscal 2016.
Zacks Rank: Currently, Kroger carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.
Stock Movement: Kroger’s shares are up nearly 3.2% during pre-market trading hours following the earnings release.
Check back later for our full write up on Kroger’s earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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