Shares of The Kroger Co. (KR, Financial) jumped after reporting first quarter earnings per share of 73 cents on revenue of $37.53 billion. The company beat earnings estimates by 10 cents and revenue estimations by $230 million.
Gross margin was 21.8% of sales, a decrease of 13 basis points from the same period last year.
Looking ahead, the company raised the low end of its net earnings guidance range to between $3.64 and $3.79 per diluted share for 2018. The previous range was $3.59 to $3.79. The company raised the low end of its adjusted net earnings guidance range to $2.00 to $2.15 per diluted share for 2018, from $1.95 to $2.15.
Micron Technology Inc. (MU, Financial) advanced after reporting third quarter earnings per share of $3.15 on revenue of $7.8 billion. The company beat by 3 cents in earnings and $50 million in revenues.
"Micron delivered record results in financial performance for the third fiscal quarter, supported by strong execution and ongoing secular demand trends," Micron President and CEO Sanjay Mehrotra said.
"Our overall consolidated gross margin of 60.6% for the third quarter of 2018 was higher compared to 58.1% for the second quarter of 2018 due to execution across our product portfolio," he said.
Shares of American Outdoor Brands Corp. (AOBC, Financial) fell more than 5% after reporting fourth quarter earnings per share of 24 cents on revenue of $172.03 million. The company beat earnings estimates by 24 cents and revenue estimates by $6.42 million.
Gross margin was 33.4% compared with 39.6% for the same quarter of the past year. GAAP net income was $7.7 million, or 14 cents per diluted share, compared with $27.7 million, or 50 cents per diluted share, previously. Non-GAAP net income was $13.3 million, or 24 cents per diluted share, compared with $31.8 million, or 57 cents per diluted share, for the comparable quarter last year.
Disclosure: The author holds no position in any stocks mentioned.
