Kraft Heinz: Q4 Earnings Snapshot
PITTSBURGH (AP) — PITTSBURGH (AP) — The Kraft Heinz Company (KHC) on Wednesday reported fourth-quarter earnings of $757 million.
On a per-share basis, the Pittsburgh-based company said it had profit of 61 cents. Earnings, adjusted for restructuring costs and non-recurring costs, came to 78 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The the processed food company with dual headquarters in Pittsburgh and Chicago posted revenue of $6.86 billion in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $6.97 billion.
For the year, the company reported profit of $2.86 billion, or $2.31 per share. Revenue was reported as $26.64 billion.
Kraft Heinz expects full-year earnings in the range of $3.01 to $3.07 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KHC at https://www.zacks.com/ap/KHC
