Kraft Heinz (KHC) Tops Q3 EPS by 7c

Kraft Heinz (NASDAQ: KHC) reported Q3 EPS of $0.65, $0.07 better than the analyst estimate of $0.58. Revenue for the quarter came in at $6.3 billion versus the consensus estimate of $6.02 billion.

Outlook:

Based on strong performance to date, the Company expects Organic Net Sales(3) growth in 2021 to be flat compared to an exceptionally strong 2020 period. In addition, the Company has increased its expectations for 2021 Adjusted EBITDA(3) from at least $6.1 billion to more than $6.2 billion. This reflects a combination of greater-than-expected Organic Net Sales as well as the Company's ongoing efforts to manage inflationary pressures as it continues to invest in long-term growth. This outlook includes the impact of the sale of the Company’s nuts business completed in June, but does not include an impact from the pending sale of its natural cheese business.

For earnings history and earnings-related data on Kraft Heinz (KHC) click here.

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