The Kroger Co.KR , one of the largest grocery retailers, came out with fourth-quarter fiscal 2017 results, wherein adjusted earnings of 63 cents per share came in line with the Zacks Consensus estimate and increased 18.9% year-over-year.
Kroger provided fiscal 2018 guidance. The company expects fiscal 2018 earnings per share in the range of $1.95-$2.15 per share. The Zacks Consensus Estimate is pegged at $2.11 per share.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has witnessed upward revisions over the past 7 days. In the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 2.3%.
Revenues: Kroger generated total revenue of $31,031 million that increased 12.4% year over year and also came above the Zacks Consensus Estimate of $30,830 million. The company's identical supermarket sales, without fuel, rose 1.5%.
Kroger envision identical supermarket sales (excluding fuel) to grow in the range of 1.5% to 2.0% in fiscal 2018.
Kroger Company (The) Price, Consensus and EPS Surprise
Zacks Rank: Currently, Kroger carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement. You can see the complete list of today's Zacks #1 (Strong Buy) Rank stocks here .
Stock Movement: Kroger's shares are down nearly 6% during pre-market trading hours following the earnings release.
Check back later for our full write up on Kroger's earnings report!
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