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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