WASHINGTON (dpa-AFX) - (Adds Outlook)
The Kraft Heinz Company (KHC) released a profit for third quarter that decreased from last year but beat the Street estimates.
The company's earnings came in at $432 million, or $0.35 per share. This compares with $733 million, or $0.59 per share, in last year's third quarter.
Excluding items, The Kraft Heinz Company reported adjusted earnings of $784M or $0.63 per share for the period.
Analysts on average had expected the company to earn $0.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 2.9% to $6.505 billion from $6.324 billion last year.
Outlook:
Looking ahead, for the fiscal 2022, the firm has raised the lower end of its expected adjusted EBITDA range. The company now projects its full-year adjusted EBITDA to be in the range of $5.9 billion to $6.0 billion against its prior expectation of $5.8 billion to $6.0 billion.
The Kraft Heinz Company earnings at a glance (GAAP) :
-Earnings (Q3): $432 Mln. vs. $733 Mln. last year. -EPS (Q3): $0.35 vs. $0.59 last year. -Analyst Estimates: $0.56 -Revenue (Q3): $6.505 Bln vs. $6.324 Bln last year.
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