Kroger Co. Q3 Profit Decreases, but beats estimates

(RTTNews) - Kroger Co. (KR) released a profit for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $483 million, or $0.64 per share. This compares with $631 million, or $0.80 per share, in last year's third quarter.

Excluding items, Kroger Co. reported adjusted earnings of $589 million or $0.78 per share for the period.

Analysts on average had expected the company to earn $0.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.2% to $31.86 billion from $29.72 billion last year.

Kroger Co. earnings at a glance:

-Earnings (Q3): $483 Mln. vs. $631 Mln. last year. -EPS (Q3): $0.64 vs. $0.80 last year. -Analyst Estimates: $0.66 -Revenue (Q3): $31.86 Bln vs. $29.72 Bln last year.

-Guidance: Full year EPS guidance: $3.40 - $3.50