logo
  

Kraft Heinz Raises Full Year Outlook - Quick Facts

While reporting third-quarter results on Wednesday, The Kraft Heinz Company (KHC) has increased its expectations for 2021 adjusted EBITDA to more than $6.2 billion, from at least $6.1 billion. Also, the company expects organic net sales growth in 2021 to be flat compared to an exceptionally strong 2020 period.

Third quarter adjusted EBITDA decreased 11.3 percent year-on-year to $1.5 billion. Adjusted earnings per share was $0.65, down 7.1 percent. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.58, for the quarter. Analysts' estimates typically exclude special items.

Net income increased 23.2 percent to $736 million. Earnings per share was $0.59, up 20.4 percent from prior year.

Net sales decreased 1.8 percent to $6.3 billion. Analysts expected revenue of $6.05 billion, for the quarter.

Shares of Kraft Heinz were up 1% in pre-market trade on Wednesday.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Microsoft Corp. (MSFT) said it plans to acquire Activision Blizzard Inc. (ATVI) for $95.00 per share, in an all-cash deal valued at $68.7 billion, inclusive of Activision Blizzard's net cash. The planned acquisition includes iconic franchises from the Activision, Blizzard and King studios like Warcraft,... Goldman Sachs Group Inc. reported Tuesday that profit for the fourth quarter declined 13 percent from last year, reflecting an 8 percent drop in net revenues, higher operating expenses and higher provisions for bad loans. Earnings for the quarter missed analysts' expectations, but quarterly revenues topped it. Amazon has dropped its earlier plan to stop accepting credit cards issued by Visa Inc. in the United Kingdom. The e-commerce giant said it is working on a potential solution with the payments processor to resolve a dispute over the payment fees. In an email to customers, the company reportedly said, "The expected change regarding the use of Visa credit cards on Amazon.co.uk will no longer take...
Follow RTT