Kroger (KR) Jumps Higher Following Strong Q1 Results, Outlook
Tweet
Share
E-mail
Get Alerts KR Hot Sheet
Price: $57.90 +2.81%
Financial Fact:
Earnings before income tax expense: 549M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Earnings before income tax expense: 549M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Join SI Premium – FREE
Kroger (NYSE: KR) shares are trading higher early Thursday following solid first-quarter earnings and guidance from the Cincinnati, OH-based grocery chain.
Revenue in the quarter increased 11 percent from $24.738 billion to $27.461 billion, beating out the consensus estimate calling for revs of $26.48 billion. Comparable-supermarket sales increased 9.8 percent, or 4.6 percent when adjusted for fuel centers.
Net income rose 15.7 percent to $432.3 million, or 70 cents per diluted share. The number was 6 cents better than the Street consensus earnings estimate of 64 cents per share.
Looking ahead, Kroger sees adjusted comps growth of 3.5 to 4.5 percent in FY11.
Kroger also increased its earnings outlook from $1.80 - $1.92 to $1.85 - $1.95, bringing it more solidly in-line with consensus EPS calling for $1.92.
"Our guidance for the year reflects the balance we strive to achieve across our business – including strong identical sales growth and outstanding cost control, as well as increased earnings and earnings per share," commented CEO David Dillon. "Our Customer 1st strategy will drive increased sales, cash flow and earnings growth well into the future."
Kroger is trading about 2.5 percent higher Thursday; shares had been up over 4 percent early in the pre-market session.
Revenue in the quarter increased 11 percent from $24.738 billion to $27.461 billion, beating out the consensus estimate calling for revs of $26.48 billion. Comparable-supermarket sales increased 9.8 percent, or 4.6 percent when adjusted for fuel centers.
Net income rose 15.7 percent to $432.3 million, or 70 cents per diluted share. The number was 6 cents better than the Street consensus earnings estimate of 64 cents per share.
Looking ahead, Kroger sees adjusted comps growth of 3.5 to 4.5 percent in FY11.
Kroger also increased its earnings outlook from $1.80 - $1.92 to $1.85 - $1.95, bringing it more solidly in-line with consensus EPS calling for $1.92.
"Our guidance for the year reflects the balance we strive to achieve across our business – including strong identical sales growth and outstanding cost control, as well as increased earnings and earnings per share," commented CEO David Dillon. "Our Customer 1st strategy will drive increased sales, cash flow and earnings growth well into the future."
Kroger is trading about 2.5 percent higher Thursday; shares had been up over 4 percent early in the pre-market session.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- ICICI Securities Resumes Dalmia Bharat Ltd (DALBHARA:IN) at Add (2)
- CoStar Group acquires Zonda for $800M, adding new home data
Create E-mail Alert Related Categories
Corporate News, EarningsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
