Feb 28, 2016 05:47 AM EST
The Kraft Heinz Company, a US-based food company, on Thursday, reported its fourth quarter earnings that outstripped analysts' estimate. The robust results were helped by the growth in the combined group of Heinz and Kraft.
The maker of Heinz tomato ketchup posted a net profit available to common shareholders of $285 million in the fourth that ended January 3, 2016, compared to a loss of $17 million in the prior year period. Earnings per amounted to $0.23 during the quarter, compared to a loss of $0.04 per share in the earlier year period.
Net income available to Kraft Heinz increased to $645 million from $163 million in the quarter ended December 28, 2014. Earnings per share, on an adjusted pro forma basis, amounted to $0.62, an increase of 10.7% from $0.56 in the same period last year.
Operating income for the quarter rose 265.6% to $1.3 billion from $352 million in the prior year period. On a pro forma basis, operating income increased to $1.3 billion from $921 million in the corresponding period last year.
Quarterly net sales jumped 154.5% to $7.12 billion from $2.8 billion in the year-ago period. However, pro forma net sales declined 5% to $7.12 billion from $7.5 billion in the previous year period. This decrease was due to the negative impact of currency and divestitures. Pro forma net sales from US business increased 0.2% to $5.08 billion from $5.07 billion in the prior year period.
On an average, analysts polled by Bloomberg survey expected earnings per share of $0.58 on revenues of $7 billion. According to Asit Sharma, a financial expert at Motley Fool, the financial results reflect the stability of brands under the combined group.
Pro forma net sales from Canada and Europe businesses declined 16.1% and 14.4% respectively during the fourth quarter. The company's board declared a dividend of $0.575 per common share for the quarter, which will be settled on 8 April 2016.
In July 2015, Kraft Foods Group merged with H J Heinz to form Kraft Heinz and billionaire investor Warren Buffet provided monetary assistance for the merger. 3G Capital, a private equity company owned by Jorge Lemann, also has an important stake holding in the combined firm. The shares of the company increased $2.29 to $77.25 during the extended trading session, Reuters reported.
For the year ended 3 January 2016, the company reported a net loss available to common stockholders of $266 million, up from $63 million in the previous year. Loss per share widened to $0.34 from $0.17 in the prior year. Net profit attributable to Kraft Heinz decelerated to $634 million from $657 million in the 52-week period that ended December 28, 2014.
Operating income increased to $2.64 billion from $1.57 billion in the previous year. Annual net sales rose to $18.34 billion from $10.9 billion in the prior year. Pro forma net sales amounted to $27.45 billion, down from $29.1 billion in the previous year.
Kraft Heinz is the third largest food company in North America. The company is handling various financial strategies to maintain its position in the food market.
However, there are some simple steps that anyone can take which will help to improve their performance when it comes to trading foreign exchange markets. Here are ten small things that can make a big difference in your FX trading success.
o prevent significant losses, risk management expertise is essential. His adage, "Rule No. 1: Never lose money," has become a stock market classic. Never forget Rule No. 1; this is Rule No. 2. This practice is followed by even the most successful investor, Warren Buffett, who advises others to follow suit.
One of the significant advancements is shifting the payment operations for remote workers. If the compliances are not met, it may lead to severe legal complications. The owner and organization may be held labially separately. The remote working lifestyle continuously grows and is a testament to becoming an endless working mode. Today we discuss components for payroll for remote workers
BRG International Founder Matias Alem had recognized this fact for a few years. So he remodeled his real estate brokerage into something completely new to solve the problem for his jet-setting international client base.
Ryan Early, hailed as 'Farmer Ryan' among sustainable agriculture experts, is a busy man. He has a laundry list of companies to his name, including Blue-Green Ventures, the company behind the revolutionary product, Blue MagicTM, a non-toxic and eco-sustainable pest preventative product using his patented BiomeMax TM Pheromonal Replication Technology.
Investor, financier, and expert in both cryptocurrencies and blockchain technology, Joy Mbanugo is the go-to in the sector. She has vast experience and knowledge across tax services, auditing, business operations, financial analysis, capital markets, and other specializations.
When Nick Collins was just 14 years old, he started his first business, which included around-the-clock phone calls and numerous questions from his parents. In fact, he began building his stout portfolio in the seventh grade by doing web design, incorporating creative content with brand strategies and plugging in a then-fledgling tech Flash.
Barry Gabster is the founder of InitiateU and is a leading proponent of the marketing mailer revolution, having already taken his company to 10x growth in 2021, alone. In fact, the exponential growth has seen the company rise from $800K-$8.5M just on word-of-mouth referrals.
If you think that the micro accounts are useful only for beginners who may not be able to cope with the fast dynamics of changing quotes on trading platforms, then this is not so. Professionalism grows out of these cent accounts.