Kroger Boosts FY23 Adj. EPS Outlook - Update

(RTTNews) - While reporting financial results for the third quarter on Thursday, supermarket chain Kroger Co. (KR) raised its adjusted earnings guidance for the full-year 2023, while trimming total identical sales growth outlook.

Looking ahead to fiscal 2023, the company now projects adjusted earnings in a range of $4.50 to $4.60 per share on total identical sales growth, without fuel, of 0.6 to 1.0 percent, with underlying growth of 2.1 to 2.5 percent after adjusting for the effect of Express Scripts.

Previously, the company expected adjusted earnings in the range of $4.45 to $4.60 per share on total identical sales growth, without fuel, of 1.0 to 2.0 percent, with underlying growth of 2.5 to 3.5 percent after adjusting for the effect of Express Scripts.

On average, 20 analysts polled by Thomson Reuters expect the company to report earnings of $4.52 per share on revenues of $150.15 billion for the year. Analysts' estimates typically exclude special items.

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