The Kraft Heinz Company Q1 Profit Increases, Beats Estimates

The Kraft Heinz Company (KHC) revealed a profit for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $776 million, or $0.63 per share. This compares with $563 million, or $0.46 per share, in last year's first quarter.

Excluding items, The Kraft Heinz Company reported adjusted earnings of $0.60 per share for the period.

Analysts on average had expected the company to earn $0.53 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.5% to $6.05 billion from $6.39 billion last year.

The Kraft Heinz Company earnings at a glance (GAAP) :

-Earnings (Q1): $776 Mln. vs. $563 Mln. last year.
-EPS (Q1): $0.63 vs. $0.46 last year.
-Analyst Estimate: $0.53
-Revenue (Q1): $6.05 Bln vs. $6.39 Bln last year.

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