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Oct. 27, 2021, 7:20 a.m. EDT

Kraft Heinz earnings and sales beat expectations

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By Tonya Garcia

Kraft Heinz Co. /zigman2/quotes/203625533/composite KHC -3.94% reported third-quarter net income of $733 million, or 59 cents per share, up from $597 million, or 49 cents per share, last year. Adjusted EPS of 65 cents beat the FactSet consensus for 58 cents. Sales of $6.324 billion were down from $6.441 billion, but also ahead of the FactSet consensus for $6.044 billion. Sales results include the divestiture of the Planters nuts business, which was sold to Hormel Foods Corp. /zigman2/quotes/209170265/composite HRL +0.85% . Kraft Heinz expects full-year organic net sales to be flat with 2020, a year that the company calls "exceptionally strong." Kraft Heinz stock edged up 0.9% in Wednesday premarket trading, and has gained 5.1% for the year to date. The S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.31% has advanced 21.8% for 2021 so far.

/zigman2/quotes/203625533/composite
US : U.S.: Nasdaq
$ 33.15
-1.36 -3.94%
Volume: 17.29M
Dec. 8, 2021 4:00p
P/E Ratio
17.76
Dividend Yield
4.83%
Market Cap
$42.24 billion
Rev. per Employee
$689,053
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/zigman2/quotes/209170265/composite
US : U.S.: NYSE
$ 42.79
+0.36 +0.85%
Volume: 2.52M
Dec. 8, 2021 4:03p
P/E Ratio
27.21
Dividend Yield
2.43%
Market Cap
$23.02 billion
Rev. per Employee
$503,061
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/zigman2/quotes/210599714/realtime
US : S&P US
4,701.21
+14.46 +0.31%
Volume: 2.16B
Dec. 8, 2021 4:59p
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