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Kraft Heinz Co.
KHC,
inventory rose 1.6% in Wednesday premarket buying and selling after the meals firm reported fourth-quarter revenue and gross sales that beat expectations. Internet losses totaled $257.0 million, or 21 cents per share, after internet revenue of $1.03 billion, or 84 cents per share, final yr. Kraft largely attributed the loss to the divestiture of its cheese enterprise, which drove a $1.3 billion non-cash impairment loss. Adjusted EPS of 79 cents beat the FactSet consensus for 63 cents. Gross sales of $6.709 billion had been down from $6.939 billion final yr, and forward of the FactSet consensus for $6.603 billion. For 2022, Kraft is guiding for a low-single digit % improve in natural gross sales. The FactSet consensus is for gross sales of $24.569 billion, implying a few 5% decline. Kraft inventory is down about 2% for the final yr whereas the S&P 500 index
SPX,
has gained 13.7% for the interval.
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