Kraft tops Street 4Q forecasts

Kraft Heinz posts 4Q profit, results beat Street expectations

PITTSBURGH (AP) _ Kraft Heinz Co. (KHC) on Wednesday reported fourth-quarter profit of $944 million.

On a per-share basis, the Pittsburgh-based company said it had profit of 77 cents. Earnings, adjusted for restructuring costs and non-recurring costs, were 91 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.

The maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese posted revenue of $6.86 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $6.77 billion.

For the year, the company reported net income of $3.45 billion, or $2.81 per share, swinging to a profit in the period. Revenue was reported as $26.49 billion.

Kraft shares have increased slightly more than 4 percent since the beginning of the year.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KHC at https://www.zacks.com/ap/KHC

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Keywords: Kraft Heinz, Earnings Report

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