Kroger (NYSE:KR) shareholders were given mixed signals on Thursday, as management lowered its third-quarter guidance, but said it expects an upswing in the fourth-quarter.
On a conference call, management said its three-year outlook for $400 million in incremental operating profit is no longer expected. The company said Q3 earnings per share are expected to be flat compared with a year ago, while the consensus estimate of analysts is $0.03 above the 2018 mark.
Kroger reported earnings per share of $0.44 on $28.2 billion in revenue, compared with the consensus for EPS of $0.41 on $28.4 billion in revenue.
Shares bounced between positive and negative territories and were up 0.4% in midday trading.
