Kroger Beats Q2 Expectations, Shares Rise


27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


Shares of Kroger Co (NYSE: KR) rose more than 7 percent in pre-market trading after the company reported stronger-than-expected earnings for its second quarter and raised its full-year outlook.The Cincinnati, Ohio-based company posted quarterly net income of $433 million, or $0.44 per share, compared to $347 million, or $0.35 per share, in the year-ago period.Its sales increased 0.9 percent to $25.54 billion. However, analysts were expecting earnings of $0.40 per share on revenue of $25.5 billion.The average estimate among 34 Estimize users was for earnings of $0.41 per share and revenue of $25.67 billion.The company recorded a $21 million LIFO charge in the second quarter, versus a $26 million LIFO charge in the year-ago quarter.Identical supermarket sales, excluding fuel, climbed 5.3 percent for the quarter.Its total operating expenses, excluding retail fuel operations, shrank 35 basis points in the quarter.During the second quarter, the company repurchased 1.1 million common shares for a total investment of $43 million.Chairman and CEO Rodney McMullen said, "We are pleased with our second quarter performance. Our core food business continued its strong performance and we benefitted from fuel margins that expanded throughout the quarter." For fiscal 2015, Kroger now expects net earnings of $1.92 to $1.98 per share, versus its prior forecast of $1.90 to $1.95 per share. The company now projects identical supermarket sales, excluding fuel, to rise 4.0 percent to 5.0 percent, versus earlier forecast of 3.5 percent to 4.5 percent growth.Kroger shares rose 7.34 percent to $38.00 in pre-market trading.

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

Posted In: EarningsNewsGuidanceprofit