Kroger (NYSE:KR) Third Quarter Profit Hikes 62%; Lifts Full Year Guidance

The Kroger Co (NYSE:KR) reported on Thursday that earnings in the fiscal third-quarter moved up 62% as the company booked stronger revenue and was assisted by a special settlement gain.

Shares of the grocery-store operator moved up 7.7% to settle at $27 as results surpass Wall Street forecasts. Shares of the company have lifted 13% over the previous 3 months.

Kroger boosted its per-share earnings forecasts to $2.44 per share to $2.46 per share for the year, high from its earlier forecasts of $2.35 to $2.42.

Kroger announced a profit of $316.5 million or 60 cents per share for the three months period, evaluated against $195.9 million or 33 cents per share in previous year.

Thomson Reuters analysts survey most recently anticipated earnings of 43 cents per share on $21.65 billion of revenue.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. SUPERVALU INC. (NYSE:SVU) fell -18.57% to settle at $2.28, Whole Foods Market, Inc. (NASDAQ:WFM) moved up +0.69% to end at $93.08 while Safeway Inc. (NYSE:SWY) jumped +0.53% to finish at $17.05 on Thursday.

The Kroger Co. (NYSE:KR) last session’s volume of 13.46 million shares was higher than its average volume of 5.05 million shares. The stock after opening at $26.06 hit high price of $26.40 and then closed at $26.25 by scoring +4.75%.

KR generated revenue of $92.79 billion in the previous twelve months and earned $603.00 million. The Company showed a positive 0.66% in the net profit margin as well as in its operating margin which remained at 1.43%. Company’s annual sales growth for the past five years was 6.45%.

The KR’s past twelve months’ price to sales ratio was 0.15 and price to cash ratio remained 58.19. As far as the returns are concerned, KR’s return on equity was recorded as 13.39% and return on investment increased 4.29% while its return on asset stayed at 2.62%.

The stock showed weekly upbeat performance of 6.49% which was maintained for the month at 4.87%. Likewise the positive performance for the quarter was recorded as 18.94% and for the year was 18.19% while the YTD performance remained at 10.67%.

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