Kroger Co. (KR) Tops Q2 EPS by 4c; Boosts FY14 EPS Outlook

Kroger Co. (NYSE: KR) reported Q2 EPS of $1.09, $0.04 better than the analyst estimate of $1.05. Revenue for the quarter came in at $32.96 billion versus the consensus estimate of $32.59 billion.

Kroger Co. sees FY2014 EPS of $3.19-$3.27, versus prior guidance of $3.14-$3.25 and the consensus of $3.22.

The company's long-term net earnings per diluted share growth rate guidance is 8 – 11%, plus a growing dividend.

Kroger raised its identical supermarket sales growth guidance, excluding fuel, to 3.0% to 4.0% for fiscal 2014. The original guidance was 2.5% to 3.5%.

Kroger continues to use cash flow from operations to maintain its current investment grade debt rating, repurchase shares, grow its dividend, and fund capital investments. The company continues to expect capital investments excluding mergers, acquisitions and purchases of leased facilities, to be in the $2.8 to $3.0 billion range for the year, including Harris Teeter.

For earnings history and earnings-related data on Kroger Co. (KR) click here.

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