After Thursday’s closing bell, Kraft Foods Inc (KRFT ) reported its fourth quarter earnings, topping analyst estimates.
KRFT Earnings in Brief
- The company reported EPS of $0.75, topping analyst expectations of $0.73.
- Revenues for the quarter came in at $4.7 billion, edging out Wall Street estimates of $4.6 billion.
- The company noted it struggled with record-high commodity costs throughout the entire quarter, which hurt overall results.
Kraft Chairman and CEO John T. Cahill had the following comments: “While there were some positive developments in the fourth quarter, we did not deliver to our potential in 2014, with the macro environment and our execution affecting our results. I believe our brands and our people are an unbeatable combination, but as we look at 2015 and beyond, we need to leverage those strengths against a plan that accelerates the pace of change, improves execution and puts Kraft on a clear path to long-term, sustainable growth."
The company made no mention of its dividend today, but we expect it to announce its next payout sometime in early March.
KRFT shares slid more than 2% in after-hours trading as the earnings beat was not enough to overcome the negative commentary from the CEO.