Kroger (NYSE:KR) is scheduled to announce Q1 outcomes on Thursday, Jun. 16, earlier than market open.
Consensus EPS estimate is $1.28 (+7.6% Y/Y) and consensus income estimate is $43.08B (+4.3% Y/Y).
Over the past 2 years, KR has beaten EPS estimates 100% of the time and income estimates 75% of the time.
Over the past 3 months, EPS estimates have seen 7 upward revisions and 1 downward. Income estimates have seen 7 upward revisions.
KR probably benefitted from greater meals inflation in Q1. Traders will look out for feedback on margins, demand and outlook.
Wells Fargo believes KR will likely top earnings estimates in Q1, however stays cautious on the inventory because the buy-side bar is excessive and there are rising dangers for margins.
Financial institution of America upgraded KR’s rating to Buy because it expects greater grocery inflation to proceed by H1 2023, driving visitors.
KR rose after reporting strong Q4 earnings and offering 2022 steering forward of estimates. Wells Fargo mentioned KR posted better-than-expected gross margin, however warned that 1 quarter doesn’t make a development.
Evercore ISI mentioned KR is executing at a high level amid a positive meals retail panorama, however additional share worth upside is restricted.
- WSJ reported that activist investor Carl Icahn will likely drop his proxy fight with KR over its therapy of pregnant pigs as he would probably lose the battle.
- KR mentioned it will continue buy more native contemporary meals by its Go Contemporary & Native Provider Accelerator program.
- As a part of its long-term strategy, KR plans to lean into the energy of core property and aggressive moats to transform structural modifications popping out of the pandemic into lasting benefits that may drive profitability.
KR inventory, which gained 12.1% YTD, outperformed the S&P 500 Shopper Staples index in the last 1 year.