The Kraft Heinz Company (NASDAQ:KHC) is reporting third quarter financial results on Thursday 29th October 2020, before market open.
According to analysts surveyed by Thomson Reuters, KHC is expected to report 3Q20 income of $ 0.62 per share from revenue of $ 6321.93 million.
For the full year, analysts anticipate top line of $ 25773.00 million, while looking forward to income of $ 2.65 per share bottom line.
Previous Quarter Performance
The Kraft Heinz Company recorded income for the second quarter of $ 0.80 per share, from the revenue of $ 6,648.00 million. The quarterly earnings up 2.56 percent while revenues developed 3.78 percent compared with the same quarter last year.
The consensus estimates are income of $ 0.65 per share from $ 6543.15 million in revenue. The bottom line results beat street analysts by $ 0.15 or 23.08 percent, at the same time, top line results outshined analysts by $ 104.85 million or 1.60 percent.
Stock Performance
Shares of The Kraft Heinz Company traded low $ -1.46 or -4.76 percent on Wednesday, reaching $ 29.22 with volume of 7.78 million shares. The Kraft Heinz Company has traded high as $ 30.35 and has cracked $ 29.21 on the downward trend
According to the previous trading day, closing price of $ 29.22, representing a 53.48 % increase from the 52 week low of $ 19.99 and a 15.64 % decrease over the 52 week high of $ 36.37.
The company has a market capital of $ 35.72 billion and is part of the Consumer Defensive sector and Packaged Foods industry.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.40 per share on July 30, 2020. The dividend were payable on September 25, 2020 to holders of record as of the close of business on August 28, 2020 and ex-dividend date on August 27, 2020.
Conference Call
The Kraft Heinz Company will be hosting a conference call at 8:30 AM eastern time on 29th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.kraftheinzcompany.com
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, the Middle East, and Africa. Its products include condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee, and other grocery products, as well as infant and nutrition products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-OY, Cracker Barrel, Classico, McCafe, PTit Quebec, Tassimo, Plasmon, Pudliszki, Honig, HP, Benedicta, Karvan Cevitam, ABC, Master, Quero, Golden Circle, Watties, Glucon-D, and Complan names.
