Kraft Heinz: Q4 Earnings Snapshot
PITTSBURGH (AP) — PITTSBURGH (AP) — The Kraft Heinz Company (KHC) on Wednesday reported fourth-quarter earnings of $2.13 billion.
On a per-share basis, the Pittsburgh-based company said it had net income of $1.76. Earnings, adjusted for non-recurring gains, came to 84 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The processed food company with dual headquarters in Pittsburgh and Chicago posted revenue of $6.58 billion in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $6.66 billion.
For the year, the company reported profit of $2.74 billion, or $2.26 per share. Revenue was reported as $25.85 billion.
Kraft Heinz expects full-year earnings in the range of $2.63 to $2.74 per share.
_____
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