Kraft Heinz shares rise after earnings beat

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    Kraft Heinz Co. KHC, +0.05% shares rose 1.3% in Thursday premarket trading after the food company reported first-quarter earnings and sales that beat expectations. Net income totaled $563 million, or 46 cents per share, up from $378 million, or 31 cents per share. Adjusted EPS of 72 cents beat the FactSet consensus for 60 cents. Sales of $6.39 billion, up from $6.16 billion and ahead of the FactSet consensus of $6.25 billion. For the second quarter, Kraft expects a mid-single-digit percent organic sales increase. For the first quarter, organic sales were up 2.5%. Kraft stock is up 15.8% for the year to date, outpacing the S&P 500 index SPX, -0.08%, which is up 11.4% for the period.

    This article was originally published by Marketwatch.com. Read the original article here.

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