Kroger Raises FY20 Adj. Earnings Outlook - Quick Facts

(RTTNews) - While reporting its financial results for the third quarter on Thursday, Kroger Co. (KR) said it is raising its fiscal 2020 adjusted earnings outlook.

For the full year 2020, Kroger now expects total identical sales without fuel to be around 14 percent and adjusted earnings per share growth of 50 percent to 53 percent. The company now forecasts fiscal 2020 adjusted earnings in a range of $3.30 to $3.35 per share, compared to the prior range of $3.20 to $3.30 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.30 per share on revenues of $132.44 billion.

For fiscal 2021, Kroger said it believes its performance will be stronger than it would have expected prior to the pandemic when viewed as a two-year stacked result for identical sales without fuel growth and as a compounded growth rate over 2020 and 2021 for adjusted earnings per share growth.