Kroger Q3 adjusted operating net earnings $394 million
Kroger's third quarter adjusted operating net earnings were $394 million, or $0.48 per diluted share.
The 2018 third quarter adjustment item relates to the change in the market value of Kroger's investment in Ocado securities.
GAAP net earnings for the third quarter 2017 were $397 million, or $0.44 per diluted share. Kroger reported identical sales growth, without fuel, of 1.6% for the third quarter of 2018.
For the first three quarters of 2018, Kroger's adjusted operating net earnings per diluted share result was slightly ahead of the company's internal expectations due to the solid early execution of Restock Kroger, including process changes that led to sustainable cost controls and higher-margin alternative profit streams. ■