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published in Blogs
Dec 05, 2022
Kroger (KR, $46.26) misses fiscal Q3 earnings expectations, despite revenue beat

Kroger (KR, $46.26) misses fiscal Q3 earnings expectations, despite revenue beat

Kroger posted revenue that experienced strong growth and beat the Street expectations. However, earnings missed estimates.

The grocery company’s revenue grew +7.3% from the year ago quarter to $34.2 billion – exceeding analysts’ expectations by $277.67 million (according to a Seeking Alpha report). Earnings came in at $0.56 (down from $0.64 in the year-ago quarter), also  missing analysts’ expectations by - $0.28 (according to a Seeking Alpha report).

For the current fiscal year, Kroger expects adjusted identical sales growth in the range of 5.1% and 5.3%. The company predicts earnings per share to be between $4.05 and $4.15. Operating cash flow should be $5.7 billion compared to $6.19 billion last year.

Related Tickers: KR