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Kroger: Fiscal Q3 Earnings Snapshot
Kroger posted a GAAP loss of $1.32 billion but beat adjusted earnings expectations with $1.05 per share despite revenue missing forecasts at $33.86 billion.
- On Thursday, Kroger Co. reported a GAAP loss of $1.32 billion and a loss per share of $2.02 in its fiscal third quarter.
- Company filings show the main hit came from one-time asset-impairment charges tied to Kroger Co.'s automated fulfillment network, which explain much of the GAAP and adjusted earnings gap.
- Adjusted results showed adjusted earnings per share beat estimates from six analysts surveyed by Zacks Investment Research, while revenue $33.86 billion missed forecasts.
- Kroger maintained full-year earnings per share guidance $4.75 to $4.80 and free cash flow $2.8 billion to $3 billion, while Kroger stock slid 4.9% Thursday.
- Same-Store sales increased 2.6% year over year despite slowing same-store growth to about 2.9%, while analysts' long-term earnings growth forecast 6% pressures Kroger stock valuation on a $62 share.
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·New York, United States
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Coverage Details
Total News Sources18
Leaning Left1Leaning Right1Center8Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
C 80%
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