While the official earnings season has already ended, many companies are still publishing their quarterly results. On Thursday the following three companies opened their books.
Pier 1 Imports (PIR) the specialty retailer of decorative home furnishing and gifts reported solid first quarter results for its fiscal 2013. The company reported a first quarter net profit of $17.8 million, or $0.16 per share compared to $0.12 last year. Sales rose 7.9% to $361.1 million driven by a 7.2% growth in comparable same store sales. For the entire year of its fiscal 2013 the company expects mid-single digit comparable store sales growth and earnings per share between $1.08 and $1.14. Investors are pleased with the report as shares ended the day 2% higher.
Smithfield Foods (SFD) the producer of fresh meat and packaged meat products reported its fourth quarter results today. The company reported a quarterly net profit of $79.5 million, or $0.49 per share. The company reported a 3% increase in revenues to $3.2 billion driven by a strong export performance. For the full year of 2012 the company reported net profits of $361.3 million, or $2.21 per share, on $13.1 billion in sales. Shares in Smithfield fell 5.7% in today's session as quarterly earnings missed analyst expectations amidst margin compression in fresh pork and hog production. Year to date shares have lost 24%.
Kroger (KR) the retailer and operator of grocery stores across the US reported strong first quarter results today. The company reported first quarter profits of $439.4 million, or $0.78 per share compared to $0.70 last year. Revenues rose 5.8% to $27.5 billion, driven by a 4.2% increase in same store sales. The company is confident about the prospects for the remainder of the year. Its Board of Directors approved a $1 billion share repurchase program. Furthermore Kroger raised its full year profit outlook to $2.33-$2.40 per share. Shares in Kroger rose 6% today as investors react enthusiastically on the results.