The Kraft Heinz Company Q2 Profit Increases, beats estimates

(RTTNews) - The Kraft Heinz Company (KHC) announced earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $1.00 billion, or $0.81 per share. This compares with $265 million, or $0.21 per share, in last year's second quarter.

Excluding items, The Kraft Heinz Company reported adjusted earnings of $977 million or $0.79 per share for the period.

Analysts on average had expected the company to earn $0.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.6% to $6.72 billion from $6.55 billion last year.

The Kraft Heinz Company earnings at a glance (GAAP) :

-Earnings (Q2): $1.00 Bln. vs. $265 Mln. last year. -EPS (Q2): $0.81 vs. $0.21 last year. -Analyst Estimate: $0.76 -Revenue (Q2): $6.72 Bln vs. $6.55 Bln last year.

-Guidance: Full year EPS guidance: $2.83 to $2.91