Why Kroger Stock Is Down By 9% Today

Why Kroger Stock Is Down By 9% Today

Shares of Kroger found themselves under strong pressure after the company released its second-quarter results. Kroger reported revenue of $31.68 billion and GAAP earnings of $0.61 per share, beating analyst estimates on revenue and missing them on earnings.

The company has also raised its full-year guidnance and expects to report adjusted earnings of $3.25 – $3.35 per share. This guidance exceeds analyst expectations for the current year. Currently, analysts expect that Kroger will report earnings of $3.06 per share this year and $3.07 per share in the next year, so the stock is trading at less than 14 forward P/E.