Kraft Heinz Co.

reported third-quarter net income of $733 million, or 59 cents per share, up from $597 million, or 49 cents per share, last year. Adjusted EPS of 65 cents beat the FactSet consensus for 58 cents. Sales of $6.324 billion were down from $6.441 billion, but also ahead of the FactSet consensus for $6.044 billion. Sales results include the divestiture of the Planters nuts business, which was sold to Hormel Foods Corp.
Kraft Heinz expects full-year organic net sales to be flat with 2020, a year that the company calls “exceptionally strong.” Kraft Heinz stock edged up 0.9% in Wednesday premarket trading, and has gained 5.1% for the year to date. The S&P 500 index

has advanced 21.8% for 2021 so far.


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