— The Kroger Co. (NYSE: KR) reported its third-quarter 2019 adjusted earnings of $0.47 per share versus $0.49 per share expected.
— Net sales rose by 0.7% to $28 billion versus $28.18 billion expected. Excluding fuel and dispositions, sales grew 2.7%. Identical Sales without fuel grew 2.5% and digital sales grew 21%.
— The FIFO gross margin rate, excluding fuel, a decrease of 24 basis points was primarily driven by industry-wide lower gross margin rates in pharmacy and continued growth in the specialty pharmacy business.
— Looking ahead into fiscal 2019, the company lowered its GAAP EPS guidance to the range of $2.17-2.27 from the previous range of $2.30-2.40.
— Adjusted EPS is still expected to be in the range of $2.15-2.25 for fiscal 2019. This is compared to the consensus estimates of $2.20.
— Operating profit outlook is lowered to the range of $2.4-2.5 billion from the prior range of $2.8-2.9 billion while adjusted operating profit is still predicted to be $2.9-3 billion for the full year.
— Capital expenditures are still anticipated to be in the range of $3-3.2 billion for fiscal 2019.
— For fiscal 2020, the company predicts an adjusted EPS of $2.30-2.40. This is compared to the consensus estimates of $2.33.
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