Kraft Heinz 3Q Profit Rises; Company Deals With Inflationary Pressures
October 27 2021 - 7:45AM
Dow Jones News
By Dave Sebastian
Kraft Heinz Co. said its profit rose for its third quarter and
that it is managing inflationary pressures.
The food maker on Wednesday posted net income attributable to
shareholders of $733 million, compared with $597 million in the
same period last year. Earnings were 59 cents a share, compared
with 49 cents a share in the prior year.
Adjusted earnings were 65 cents a share. Analysts polled by
FactSet were expecting 58 cents a share.
Net sales fell to $6.32 billion for the three months ended Sept.
25 from $6.44 billion. Analysts were looking for $6.04 billion. The
decline includes a four-percentage-point effect from the
divestiture of its nuts business, the company said.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
October 27, 2021 07:30 ET (11:30 GMT)
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