Kroger (KR) Tops Q2 EPS by 2c; FY16 Outlook Trimmed

Kroger (NYSE: KR) reported Q2 EPS of $0.47, $0.02 better than the analyst estimate of $0.45. Revenue for the quarter came in at $26.6 billion versus the consensus estimate of $26.79 billion.

Comps rose 1.7 percent, excluding fuel.

GUIDANCE:

Kroger sees FY2016 EPS of $2.10-$2.20, versus prior guidance of $2.19-$2.28 and the consensus of $2.22.

For identical supermarket sales growth, excluding fuel, the company expects the remainder of 2016 to be in the 0.5% to 1.5% range, which is 1.4% to 1.8% for the full year.

The company lowered expected capital investments – excluding mergers, acquisitions and purchases of leased facilities – to $3.6 to $3.9 billion for the year. The previous expectation was $4.1 to $4.4 billion.

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

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