Kraft Heinz Co reports results for the quarter ended June 30 - Earnings Summary

• Kraft Heinz Co KHC.OQ reported quarterly adjusted earnings of 69 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 78 cents. The mean expectation of seventeen analysts for the quarter was for earnings of 64 cents per share. Wall Street expected results to range from 61 cents to 65 cents per share.

• Revenue fell 1.9% to $6.35 billion from a year ago; analysts expected $6.26 billion.

• Kraft Heinz Co's reported EPS for the quarter was a loss of $6.60​.

• The company reported a quarterly loss of $7.82 billion.

• Kraft Heinz Co shares had risen by 10.6% this quarter and lost 7.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 1.3% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy," 19 "hold" and 2 "sell" or "strong sell." The average consensus recommendation for the food processing peer group is also "hold"

• Wall Street's median 12-month price target for Kraft Heinz Co is $29.00, about 1.5% above its last closing price of $28.56

This summary was machine generated from LSEG data July 30 at 01:30 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)