Kraft Foods Earnings: Here’s Why Shares are Up Now
Kraft Foods Group (NASDAQ:KRFT) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.13%.
Kraft Foods Group Earnings Cheat Sheet
Revenue: Rose 2.09% to $4.55 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Kraft Foods Group reported adjusted EPS income of $0.76 per share. By that measure, the company beat the mean analyst estimate of $0.64. It beat the average revenue estimate of $4.49 billion.
Quoting Management: “We’re off to a solid start,” said Tony Vernon, CEO of Kraft. “Our first quarter results reflect strong returns on our new product innovations to date, as well as the fact that our cost savings outpaced our plans to reinvest in our brands. In the months to come, we’ll execute our marketing playbook more broadly across our portfolio and we expect to see good progress in both top- and bottom-line performance for the full year.”
Key Stats (on next page)…
Revenue increased 1.16% from $4.49 billion in the previous quarter. EPS increased 406.67% from $0.15 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.81 to a profit $0.78. For the current year, the average estimate has moved up from a profit of $2.65 to a profit of $2.78 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)