Key Takeaways
- Kroger shares surged Thursday after the supermarket chain better-than-expected adjusted profit for the second quarter.
- Diluted EPS and revenue missed analysts' consensus estimates.
- CEO Rodney McMullen said the chain is "confident in the facts and the strength of our position" as it fights the FTC's legal challenges to its $24.6 billion merger with Albertsons.
Kroger (KR)๊ shares surged Thursday after ꦺit better-than-expected adjusted profit for the second quarter.
The supermarket chain posted adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $0.93, topping the $0.91 consensus estimate of analysts polled by Visible Alpha. Diluted EPS of $0.64 and revenue of $33.91 billion missed expectations.
Kroger affirmed most of its full-year outlook, while lifting the floor for its 澳洲幸运5官方开奖结果体彩网:same-store sales growth projection, excluding fuel, to 0.75% from 0.25%. 澳洲幸运5官方开奖结果体彩网:Chief Financial Officer (CFO) Todd Foley said the chain's "positive customer trends are dri♑ving sales momentum that we expect to continue in the second half of the year."
CEO 'Confident in the Facts' As Kroger Fights for Albertsons Merger
Kroger did not provide a substantial update to its progress in addressing regulatory concerns over its $24.6 billion merger with Albertsons (). 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Rodney McMullen said the company is "confident in the facts and the strength of our position" as 澳洲幸运5官方开奖结果体彩网:Kroger fights the 澳洲幸运5官方开奖结果体彩网:Federal Trade Commission (FTC)'s attempts to 澳洲幸运5官方开奖结果体彩网:halt the merger.
Kroger shares rose more than 6% to $54.80 in late-morning trading Thursday and are up about 20% this year.