(Bloomberg) — Kraft Heinz Co.’s fourth-quarter earnings topped estimates as price hikes helped the maker of Kool-Aid and Philadelphia cream cheese offset higher costs.
- Earnings per share excluding some items in the quarter ended Dec. 25 were 79 cents, topping the average analyst estimate of 63 cents. Organic revenue — which excludes the impact of currency swings, acquisitions and divestitures — rose 3.9% from the prior-year period, blowing past the 0.2% projection of analysts surveyed by Bloomberg.
- This year, Kraft Heinz expects consumption trends to remain above pre-pandemic levels. The company forecast adjusted earnings before interest, taxes, depreciation and amortization in the range of $5.8 billion to $6 billion, in line with the average analyst estimate of of $5.88 billion.
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