Kroger tops 3Q forecasts

Kroger Co. reported today profit of $362 million in its fiscal third quarter.

The Cincinnati-based company said it had profit of 73 cents per share. Earnings, adjusted for pretax gains, were 69 cents per share.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.

The supermarket chain posted revenue of $24.99 billion in the period, which also beat Street forecasts. Analysts expected $24.85 billion, according to Zacks.

Kroger expects full-year earnings in the range of $3.32 to $3.36 per share.

Kroger shares have increased 48 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 12 percent. The stock has increased 39 percent in the last 12 months.