The Kraft Heinz Company (KHC - Free Report) just released its first quarter 2017 financial results, posting earnings of $0.84 per share and revenues of $6.36 billion. Currently, Kraft Heinz is a Zacks Rank #3 (Hold), and is down 3.21% to $86.28 per share in after-hours trading shortly after its earnings report was released.
Kraft Heinz:
Missed earnings estimates. The company posted earnings of $0.84 per share (excluding $0.11 from non-recurring items), falling just short of the Zacks Consensus Estimate of $0.85 per share.
Missed revenue estimates. The company saw revenue figures of $6.36 billion, missing our consensus estimate of $6.46 billion.
Kraft Heinz’ net sales were 6.36 billion, down 3.1% year-over-year. The company’s organic net sales fell by 2.7% sequentially. Volume/mix fell by 13.9%, driven in part by reduced in-store activity and the discontinuation of some products at retail locations.
The company’s adjusted EBITDA fell 3.4% to $1.9 billion. Kraft Heinz’ U.S. net sales dropped 3.5% to $4.6 billion. In Canada, net sales fell by 12.2% to $443 million. Sales also fell in Europe.
However, in the rest of the world Kraft Heinz’ net sales jumped by 7.5% to $826 million.
“Although our top line results in the first quarter reflect a slow start to the year, we remain on track with our key initiatives,” Kraft Heinz CEO Bernardo Hees said in a press release. “We are delivering product innovations, renovations and geographic expansion that positions Kraft Heinz to drive organic sales growth for the balance of 2017 and beyond.”
“We also have good visibility on costs, savings and what we must do to deliver another year of profitable growth for The Kraft Heinz Company.”
Here’s a graph that looks at Kraft Heinz’ Price, Consensus and EPS Surprise history:
The Kraft Heinz Company is a food and beverage company. The Company's brands include Kraft, Heinz, ABC, Capri Sun, Classico, Jell-O, Kool-Aid, Lunchables, Maxwell House, Ore-Ida, Oscar Mayer, Philadelphia, Planters, Plasmon, Quero, Weight Watchers Smart Ones and Velveeta. The Kraft Heinz Company formerly known as Kraft Foods Group, Inc., is based in PITTSBURGH, United States.
Check back later for our full analysis on Kraft Heinz’ earnings report!
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The Kraft Heinz Company (KHC - Free Report) just released its first quarter 2017 financial results, posting earnings of $0.84 per share and revenues of $6.36 billion. Currently, Kraft Heinz is a Zacks Rank #3 (Hold), and is down 3.21% to $86.28 per share in after-hours trading shortly after its earnings report was released.
Kraft Heinz:
Missed earnings estimates. The company posted earnings of $0.84 per share (excluding $0.11 from non-recurring items), falling just short of the Zacks Consensus Estimate of $0.85 per share.
Missed revenue estimates. The company saw revenue figures of $6.36 billion, missing our consensus estimate of $6.46 billion.
Kraft Heinz’ net sales were 6.36 billion, down 3.1% year-over-year. The company’s organic net sales fell by 2.7% sequentially. Volume/mix fell by 13.9%, driven in part by reduced in-store activity and the discontinuation of some products at retail locations.
The company’s adjusted EBITDA fell 3.4% to $1.9 billion. Kraft Heinz’ U.S. net sales dropped 3.5% to $4.6 billion. In Canada, net sales fell by 12.2% to $443 million. Sales also fell in Europe.
However, in the rest of the world Kraft Heinz’ net sales jumped by 7.5% to $826 million.
“Although our top line results in the first quarter reflect a slow start to the year, we remain on track with our key initiatives,” Kraft Heinz CEO Bernardo Hees said in a press release. “We are delivering product innovations, renovations and geographic expansion that positions Kraft Heinz to drive organic sales growth for the balance of 2017 and beyond.”
“We also have good visibility on costs, savings and what we must do to deliver another year of profitable growth for The Kraft Heinz Company.”
Here’s a graph that looks at Kraft Heinz’ Price, Consensus and EPS Surprise history:
The Kraft Heinz Company is a food and beverage company. The Company's brands include Kraft, Heinz, ABC, Capri Sun, Classico, Jell-O, Kool-Aid, Lunchables, Maxwell House, Ore-Ida, Oscar Mayer, Philadelphia, Planters, Plasmon, Quero, Weight Watchers Smart Ones and Velveeta. The Kraft Heinz Company formerly known as Kraft Foods Group, Inc., is based in PITTSBURGH, United States.
Check back later for our full analysis on Kraft Heinz’ earnings report!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think. See This Ticker Free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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