Adjusted earnings of 57 cents a share rose from 48 cents a year earlier and topped analysts’ forecasts of 55 cents, according to FactSet. Revenue rose 2.1% to $28.9 billion in the fourth quarter from $28.3 billion a year earlier. The latest figure matched analysts’ revenue projections.
Net income totaled $327 million, or 40 cents a share, up from $259 million, or 32 cents, a year ago.
"We are pleased with our 2019 results and improving trends in our supermarket business,” Kroger CEO Rodney McMullen said in a statement.
“We delivered on our commitments for ID [identical-store] sales without fuel, adjusted FIFO operating profit, and cost savings in addition to generating over $100 million of incremental operating profit through alternative profit streams in 2019,” McMullen added.
ID sales without fuel rose 2% in the fourth quarter, and adjusted FIFO operating profit climbed 21% to $758 million in the quarter from $628 million a year ago.
Kroger maintained its fiscal-year earnings guidance of $2.30 to $2.40 a share and identical-store sales growth of 2.25%. Those numbers don’t take into account any effects from the coronavirus.
Analysts call for earnings of $2.33 a share and same-store sales growth of 2.1% , according to FactSet.
Kroger shares have slumped 13.4% in total over the last five years, as the company has faced intense competition from online grocery shopping. But the stock has rebounded 53% since July 23 amid signs its strategy was having some success.
Kroger traded at $32.10, up 3.68%.