FX.co ★ Kroger Co. Q3 Profit Drops, Inline With Estimates

Kroger Co.'s third-quarter profits have decreased from the same period last year, aligning with market expectations. The company reported a net income of $618 million, or $0.84 per share, compared to the previous year's $646 million, or $0.88 per share. When adjusted for specific items, Kroger's earnings were $719 million, or $0.98 per share. This result met the consensus estimates of $0.98 per share as anticipated by analysts surveyed by Thomson Reuters, who generally exclude extraordinary items from their calculations.

The company's quarterly revenue experienced a slight decline of 1.0%, dropping to $33.634 billion from $33.957 billion in the previous year. A summary of Kroger Co.'s financial performance (GAAP basis) is as follows: Third-quarter earnings decreased to $618 million from $646 million in the prior year, with earnings per share (EPS) at $0.84 compared to last year's $0.88. Revenue for the quarter was $33.634 billion against $33.957 billion last year.

For the full year, Kroger has projected an EPS guidance between $4.35 and $4.45.