Kraft Heinz: Q4 Earnings Snapshot

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PITTSBURGH (AP) — PITTSBURGH (AP) — Kraft Heinz Co. (KHC) on Wednesday reported fourth-quarter net income of $890 million, after reporting a loss in the same period a year earlier.

On a per-share basis the company, which operates out of Pittsburgh and Chicago, said it had net income of 72 cents. Earnings, adjusted for non-recurring costs and restructuring costs, came to 85 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.

The maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese posted revenue of $7.38 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $7.18 billion.

For the year, the company reported profit of $2.36 billion, or $1.91 per share. Revenue was reported as $26.49 billion.

Kraft Heinz expects full-year earnings in the range of $2.67 to $2.75 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KHC at https://www.zacks.com/ap/KHC