Kraft Heinz Co upgraded its full-year organic sales forecast, benefiting from higher prices and resilient demand for its products. The company now estimates that organic sales will grow by a “high single digit rate” versus the “mid single digit rate” it previously forecast.
In addition, Kraft Heinz continues to see strong demand for the quick meals, sauces and various cooking products it produces that became especially popular during the lockdowns.
Nevertheless, its sales fell to $6.55 billion in the second quarter of the year, from $6.62 billion in the corresponding period last year, with analysts placing them at $6.39 billion.
Earnings per share came in at 21 cents, versus a loss of 2 cents in the same period last year, with adjusted earnings per share at 0.70 cents, up from 0.78 cents last year, with analysts putting it at 68 cents.
Source: Capital
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