FONT-SIZE Plus   Neg

H.J. Heinz Reaffirms FY12 Profit View - Quick Facts

H.J. Heinz Co. (HNZ) announced that it reaffirmed its fiscal 2012 reported earnings from continuing operations, excluding special items, outlook in a range of $3.32 to $3.34 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $3.33 per share for fiscal 2012. Analysts' estimates typically exclude special items.

The company said that it will begin manufacturing Heinz Ketchup in Brazil in fiscal 2013 to support new distribution and growth in that key Emerging Market and across Latin America, where Heinz currently holds leading shares in several other countries in the region.

"Heinz Emerging Markets are on track to generate more than 21% of our total sales this year, or around $2.5 billion. I expect our businesses in Brazil, China, Indonesia and Venezuela to each deliver at least $400 million in sales in Fiscal 2013," Chairman, President and CEO William Johnson said.

Heinz said that it remains on track to deliver its goal of at least $1.3 billion in cost savings by 2015.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Uber's self-driving technology start-up Otto has partnered with Anheuser-Busch InBev to complete the world's first shipment by a self-driving truck. Otto said in a blog post that the company and Anheuser-Busch delivered 51,744 cans of Budweiser beer from Fort Collins, through downtown Denver, to Colorado Springs. Netflix Inc. has lined up plenty of new, original Netflix shows and movies for November. The return of the highly anticipated "Gilmore Girls: A Year in the Life" and Leonardo DiCaprio-produced documentary "The Ivory Game," which is focused on ivory trafficking, are among the main highlights that will arrive on Netflix in November. General Motors will introduce upgraded OnStar Go in cars to connect and interact with favorite brands. The car-maker has partnered with IBM's Watson to improve its OnStar service and the two companies will share the revenue from the project.
comments powered by Disqus
Follow RTT