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Kroger tops estimates for Q2 – the stock is up

12 September 2022 By Klavs Valters

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The Kroger Company (KR) released its latest financial results for Q2 on Friday.

The American grocery supermarket chain reported revenue of $34.638 billion for the quarter vs. $34.461 billion estimate.

Earnings per share also beat analyst estimates at $0.90 per share vs. $0.82 per share expected.

“Kroger delivered strong second quarter results propelled by our Leading with Fresh and Accelerating with Digital strategy. We are incredibly thankful for our dedicated associates who continue to deliver a full, fresh and friendly customer experience,” CEO of Kroger, Rodney McMullen said in a press release.

“Our consistent performance underscores the resiliency and flexibility of our business model, which enables Kroger to thrive in many different operating environments. We are applying technology and innovation to improve freshness, grow Our Brands, and create a seamless shopping experience so our customers can get what they want, when and how they want it, with zero compromise on quality, selection and affordability.”

We will continue to focus on providing affordable, fresh food to our customers, investing in wages and the associate experience, and creating zero hunger, zero waste communities because when we do those things well, we deliver attractive and sustainable shareholder returns,” McMullen added.

The Kroger Company (KR) chart

 

 

The stock price of Kroger rose by around 5% on Friday, trading at $51.07 a share.

Here is how the stock has performed in the past year:

  • 1 month +8.20%
  • 3 months -0.02%
  • Year-to-date +12.86%
  • 1 year +19.71%

Kroger price targets

  • Credit Suisse $55
  • Oppenheimer $51
  • Guggenheim $57
  • Morgan Stanley $41
  • Deutsche Bank $53
  • BNP Paribas $60

The Kroger Company is the 450th largest company in the world with a market cap of $36.27 billion.

You can trade The Kroger Company (KR) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.

Sources: The Kroger Company, TradingView, MetaTrader 5, MarketBeat, CompaniesMarketCap

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