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
Experiments In Luminosity: A Conversation With Aluminum Metalsmith, Alex Rasmussen of Neal Feay Studio
Meet TOMO: Under Par for Under $100
Grupo Vidanta Finding Luxury and Novelty to be a Winning Combination
In Pursuit of The Perfect Compact Camera: Leica Q and Fuji X100F
Newport Beach Wine and Food Festival
A Luxury Journalist Goes To Antarctica, Part 1
Looking for a Romantic Yet Adrenalin-Fueled Honeymoon? Kauai Has the Perfect Balance
Bespoke Beauty, Supercar Style: Behind the Wheel of the Wicked McLaren 720S Unveiled in New Video
Melbourne Australia's Gastronomic Getaway, Max's Restaurant at Red Hills Estate
The new The New MGM Luxury Resort Casino Opens in Historic Springfield, Massachusetts
See the complete list
 
Featured Photo Gallery
See the complete list
THINGS WE LIKE