The Kraft Heinz Company (NASDAQ: KHC) reported third-quarter 2020 financial results before the opening bell on Thursday. The food products company reported a 6% growth in Q3 revenues to $6.44 billion, which was better than the Wall Street consensus. Earnings of $0.70 per share also surpassed average analysts’ estimates by 8 cents.
KHC shares gained 1% immediately following the announcement. The stock has lost 7.5% of its value since the beginning of this year.
CEO Miguel Patricio said, “The continuation of our strong growth into the third quarter is a reflection of the agility we are creating as an organization and because of that, we are raising our outlook for the full year. We are building momentum, and we are confidently optimistic about our near-term performance.”
Like other leading store operators, Costco Wholesale Corporation (NASDAQ: COST) went into overdrive when people stockpiled on essential items after coronavirus threw normal life out of gear in early 2020.
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Warehouse chain Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the fourth quarter of 2021. The results also topped expectations. Fourth-quarter net sales grew 17.5% annually to