KHC - Why Food Company Kraft Heinz's Shares Are Shooting Higher Today | Benzinga
Kraft Heinz Company (NASDAQ: KHC) shares are trading higher after it reported mixed third-quarter FY23 results and raised its full-year EPS outlook.
KHC reported third-quarter sales growth of 1% year-on-year to $6.57 billion, missing the analyst consensus estimate of $6.715 billion.
Sales in North America declined 0.4% Y/Y, and International climbed 5.7%.
Gross profit increased by 21.2% Y/Y to $2.24 billion, with the margin expanding 568 points to 34%.
Operating margin for the quarter was 10%, and the operating income decreased 13% to $653 ...