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Kraft Heinz misses third-quarter revenue estimates

2023-11-01 19:27
Kraft Heinz missed analysts' estimates for third-quarter sales on Wednesday, as the Jell-O maker's volumes took a hit
Kraft Heinz misses third-quarter revenue estimates

Kraft Heinz missed analysts' estimates for third-quarter sales on Wednesday, as the Jell-O maker's volumes took a hit from higher product prices of its packaged meals and condiments.

The Heinz ketchup maker's net sales rose to $6.57 billion for the quarter ended Sept. 30 from $6.51 billion a year earlier.

Analysts on average had expected $6.72 billion, according to LSEG data.

(Reporting by Savyata Mishra and Annett Mary Manoj; Editing by Devika Syamnath)