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Kraft Heinz Lower Despite Q4 Earnings and Revenue Beats

Kraft Heinz Company KHC just released its fourth quarter financial results of 2016, posting earnings of $0.91 per share and revenues of $6.85 billion.

Currently, Kraft Heinz is a Zacks Rank #3 (Hold) and is down 0.65% to $90.50 per share in trading shortly after its earnings report was released.

Beat earnings estimates . The company posted earnings of $0.91 (excluding $0.14 from non-recurring items), beating the Zacks Consensus Estimate of $0.87 per share.

Beat revenue estimates . The company saw revenue figures of $6.8 billion, surpassing our consensus estimate of $6.7 billion.

The company's Q4 net sales were $6.85 billion, which is down 3.7 percent from net sales last year in the same period. However, Kraft Heinz's net income that is attributable to common shareholders increased to $944 million and diluted EPS is now at $0.77 per share compared to $0.23 a year ago in the same period.

The company is now expecting $1.7 billion at the end of 2017 from its multi-year Integration Program. The program is forecasted to result in $2 billion of pre-tax cost and $1.3 billion of capital expenditures.

"We finished 2016 consistent with our expectations and with good momentum heading into 2017," said Bernardo Hees, Kraft Heinz CEO. "Looking forward, our objectives and opportunities are clear. But we need to sharpen our focus on profitable sales, and further improve our capabilities and execution to deliver another year of strong, sustainable growth in 2017."

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The Kraft Heinz Company Price and Consensus

The Kraft Heinz Company Price and Consensus | The Kraft Heinz Company Quote

The Kraft Heinz Company is a food and beverage company. The Company's brands include Kraft, Heinz, ABC, Capri Sun, Classico, Jell-O, Kool-Aid, Lunchables, Maxwell House, Ore-Ida, Oscar Mayer, Philadelphia, Planters, Plasmon, Quero, Weight Watchers Smart Ones and Velveeta. The Kraft Heinz Company formerly known as Kraft Foods Group, Inc., is based in PITTSBURGH, United States.

Check back later for our full analysis on Kraft Heinz's earnings report!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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