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The Kroger Co (KR) 3Q18 Results: Mixed Results, Maintains Guidance for Second Half

Executive Summary

  • Kroger reported 3Q18 adjusted EPS of $0.48, beating the $0.43 consensus estimate and up 8.6% year over year. Revenues were $27.67 billion, slightly ahead of the $27.65 billion consensus estimate and down 0.3% year over year.
  • Comps were 1.6% ex fuel, below the 1.7% consensus estimate.
  • The company maintained 2018 adjusted EPS guidance of $2.00–$2.15 and updated GAAP EPS guidance to $3.80–$3.95 from $3.88–$4.03 previously. Kroger expects second-half sales growth ex fuel to be similar to the 1.7% figure in the first half.

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