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Kraft Heinz (KHC) Posts Q3 Earnings Beat, Revenue Miss
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The Kraft Heinz Company (KHC - Free Report) just released its third-quarter earnings results, posting earnings of $0.83 per share and revenue of $6.267 billon.
Currently, KHC has a Zacks Rank #2 (Buy), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Kraft Heinz:
Beat earnings estimates. The company posted earnings of $0.83 per share, beating our Zacks Consensus Estimate of $0.76.
Missed revenue estimates. The company saw revenue figures of $6.267 billion, missing our estimate of $6.309 billion.
“While our financial performance is respectable, we continue to have the opportunity to improve our offerings and retail execution in several key markets and take our brands to places they don’t currently compete,” said CEO Bernardo Hees.
United States net sales were $4.4 billion, down about 1.2% year-over-year. European sales also fell and were down about 14.5%, while Canada and Rest of World sales were up 2% and 4.4%, respectively.
KHC was down 0.88% as of 4:43 p.m. EST in after-hours trading shortly after its earnings report was released.
Here’s a graph that looks at Kraft Heinz’s latest earnings performance:
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.
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Kraft Heinz (KHC) Posts Q3 Earnings Beat, Revenue Miss
The Kraft Heinz Company (KHC - Free Report) just released its third-quarter earnings results, posting earnings of $0.83 per share and revenue of $6.267 billon.
Currently, KHC has a Zacks Rank #2 (Buy), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Kraft Heinz:
Beat earnings estimates. The company posted earnings of $0.83 per share, beating our Zacks Consensus Estimate of $0.76.
Missed revenue estimates. The company saw revenue figures of $6.267 billion, missing our estimate of $6.309 billion.
“While our financial performance is respectable, we continue to have the opportunity to improve our offerings and retail execution in several key markets and take our brands to places they don’t currently compete,” said CEO Bernardo Hees.
United States net sales were $4.4 billion, down about 1.2% year-over-year. European sales also fell and were down about 14.5%, while Canada and Rest of World sales were up 2% and 4.4%, respectively.
KHC was down 0.88% as of 4:43 p.m. EST in after-hours trading shortly after its earnings report was released.
Here’s a graph that looks at Kraft Heinz’s latest earnings performance:
KRAFT HEINZ CO Price, Consensus and EPS Surprise
KRAFT HEINZ CO Price, Consensus and EPS Surprise | KRAFT HEINZ CO Quote
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.
Stocks that Aren't in the News. Yet.
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015 with a stellar average gain of +26% per year. See these high-potential stocks free >>