Home Wealth  Money Food Sector Earnings: Kraft, Whole Foods

Food Sector Earnings: Kraft, Whole Foods

Posted: Nov. 4th, 2011  |  By Forbes

powered by Forbes

RSS Syndicated News Email a Friend Suggest an Article Share Visit Website

Kraft Foods reported third quarter earnings late yesterday.

Profits rose to $922 million, or $0.52 per share, from $754 million, or $0.43 per share, in last year's third quarter.

Adjusted earnings of $0.58 per share beat analyst estimates, as did a 12% increase in revenue, to $13.2 billion.

Kraft is splitting itself into two companies, dividing its snack and candy business from its grocery business, by late next year.

Kraft raises its earnings forecast by $0.02 per share, to earnings of at least $2.27 per share.

Also late yesterday, high-end natural and organic grocer Whole Foods (nasdaq: WFMI - news - people ) reported fiscal fourth quarter earnings that rose to $75.5 million, or $0.42 per share, up from $57.5 million, or $0.33 per share, last year.

Earnings per share were just ahead of analyst expectations.

Revenue rose 12% to $2.35 billion, just about in line with expectations.

Whole Foods reiterated its 2012 earnings forecast of $2.21 to $2.26 per share, which fall below analyst estimates at the low end.

Market News Video produces and distributes online videos about stocks and investing.




Share on Facebook Share
See Next Article
Need to Get Away?
Top 10 Business Hotels
Who says you canít mix business with pleasure?
Read More
More Articles from Forbes.com

advertisement
Quick Links
Autos
Boating
Real Estate
Luxury Travel
Fashion
Search Real Estate
Find Your Dream Home
Search for homes by
State, Country or Style.
Event Calendar
advertisement
Current News & Features
California's Cavallo Point combines vintage and modern with panoramic views over the Golden Gate Bridge
Moët & Chandon Celebrates Roger Federer With $24,000 Limited Edition Champagne Magnums
Cruising Through Corsica in the Cool New E-Pace, Jaguar's First-Ever Compact SUV
Residences at the West Hollywood Edition Unveil Stunning Interiors
Porsche and Pirelli Go Full Tilt in Florida
Experience Whistler's Cornucopia
Food and Wine Weekends with the CIA at Copia in Napa
A Train Journey Across Canada Via VIA Rail
An Oenophile Getaway to the Washington Wine Country and a stay at the Willows Lodge
Cypress Grove Remixes Award Winning Humboldt Fog Goat Cheese
See the complete list
 
Featured Photo Gallery
See the complete list
THINGS WE LIKE