3Q18 Earnings Overview: Kroger Outperforms Expectations
Kroger delivers a strong third quarter
Cincinnati-based Kroger (KR) reported its financial results for fiscal 3Q18 (ended November 4, 2017) on November 30, 2017. The company delivered better-than-expected results on both the top and bottom line.
Its EPS (earnings per share) improved 7.3% YoY (year-over-year) to $0.44, beating the consensus expectation by $0.04. Its total revenues grew 4.5% YoY to $27.7 billion, which was $285 million higher than the average Wall Street analyst estimate.
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Notably, Kroger has not missed the analyst expectations in any quarter of this year. The company also reaffirmed its full-year EPS guidance.
With trailing-12-month sales of $119.2 billion, Kroger is the largest supermarket chain in the US and one of the world’s largest grocery retailers, surpassed only by Wal-Mart Stores (WMT). Kroger operates 2,790 supermarket stores, 306 fine jewelry stores, and 783 convenience stores across 35 states and the District of Columbia.
Kroger’s market cap was $23.9 billion as of December 4, 2017, but it is among the worst-performing grocery stocks this year. KR is a component of the S&P 500 Index (SPX) and the S&P 500 Food & Staples Retail Index. It makes up 4.5% of the Van Eck Retail ETF (RTH).