Heinz Earnings Rise 5.1% on Higher Sales
- Share via
H.J. Heinz Co. said fiscal fourth-quarter earnings rose 5.1% on revenue gains in North America. The food producer will sell one European business and consider selling others.
Net income climbed to $206.5 million, or 58 cents a share, from $196.5 million, or 55 cents, a year earlier, Pittsburgh- based Heinz said. Sales increased 5% to $2.45 billion.
Retail sales in the U.S. and Canada rose for the fourth quarter in a row.
Excluding an expense for its HAK vegetable line, Heinz earned 63 cents a share. On that basis, it was expected to earn 62 cents, Thomson First Call said.
Shares of Heinz fell 5 cents to $37.39.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
