Kroger (KR) Tops Q1 Earnings, Stock Down On Trimmed Guidance

The Kroger Co. (NYSE:KR) , one of the largest grocery retailers, came out with first-quarter fiscal 2017 results, wherein earnings of 58 cents per share surpassed the Zacks Consensus Estimate by a penny but declined 18.3% from the prior-year quarter.

Kroger trimmed its fiscal 2017 earnings guidance. The company now expects fiscal 2017 earnings per share in the range of $2.00–$2.05 per share, down from the earlier estimate of $2.21–$2.25.

Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has been stable over the past 30 days. In the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 0.9%.

Revenues: Kroger generated total revenue of $36,285 million that increased 4.9% year over year and also came above the Zacks Consensus Estimate of $35,507 million. The company’s identical supermarket sales, without fuel, fell 0.2%.

Kroger continues to envision identical supermarket sales (excluding fuel) in the range of flat to up 1% in fiscal 2017.

Zacks Rank: Currently, Kroger carries a Zacks Rank #4 (Sell) 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 8% 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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