PITTSBURGH (AP) — PITTSBURGH (AP) — The Kraft Heinz Company (KHC) on Wednesday reported fourth-quarter net income of $651 million.
The Pittsburgh-based company said it had net income of 55 cents per share. Earnings, adjusted for non-recurring costs, came to 67 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The processed food company with dual headquarters in Pittsburgh and Chicago posted revenue of $6.35 billion in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $6.42 billion.
For the year, the company reported a loss of $5.85 billion, or $4.93 per share. Revenue was reported as $24.94 billion.
Kraft Heinz expects full-year earnings in the range of $1.98 to $2.10 per share.
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