CINCINNATI (AP) — Kroger Co. (KR) on Friday reported fiscal second-quarter net income of $383 million.
The Cincinnati-based company said it had profit of 40 cents per share. Earnings, adjusted for non-recurring costs, were 47 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The supermarket chain posted revenue of $26.57 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $26.78 billion.
Kroger expects full-year earnings in the range of $2.10 to $2.20 per share.
Kroger shares have declined 25 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased almost 7 percent. The stock has decreased 11 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KR at http://www.zacks.com/ap/KR
Keywords: Kroger, Earnings Report