PITTSBURGH (AP) — PITTSBURGH (AP) — The Kraft Heinz Company (KHC) on Wednesday reported a loss of $290 million in its third quarter.
The Pittsburgh-based company said it had a loss of 24 cents per share. Earnings, adjusted for one-time gains and costs, were 75 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The processed food company with dual headquarters in Pittsburgh and Chicago posted revenue of $6.38 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $6.41 billion.
Kraft Heinz expects full-year earnings in the range of $3.01 to $3.07 per share.
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