Kroger (KR) Tops Q3 EPS by 1c; Boosts FY14 Comps, EPS Outlook

September 11, 2014 8:31 AM EDT

(Updated - September 11, 2014 8:34 AM EDT)

Kroger (NYSE: KR) reported Q3 EPS of $0.70, $0.01 better than the analyst estimate of $0.69. Revenue for the quarter came in at $25.3 billion versus the consensus estimate of $24.92 billion.

Adjusted comps rose 4.8 percent.

"We are winning with customers because we offer a full range of advantages including a great overall shopping experience, excellent customer service, a complete assortment of both national and corporate brand products, and everyday low prices and promotional offerings," said Rodney McMullen, Kroger's chief executive officer. "As we improve our connection with customers, we are also executing our growth plan and delivering on our key performance indicators -- all of which is fueling strong financial results for shareholders."

Based on the second quarter results, the company raised and narrowed its adjusted net earnings per diluted share guidance to a range of $3.22 to $3.28 for fiscal 2014. The previous guidance was $3.19 to $3.27 per diluted share. Kroger raised its identical supermarket sales growth guidance, excluding fuel, to 3.5% to 4.25% for fiscal 2014. The previous guidance was 3.0% to 4.0%.

The Street sees FY15 EPS of $3.28.

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

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