Kraft raises e.p.s.
January 13, 2010
by Meat&Poultry staff
NORTHFIELD, ILL. – Kraft Foods Inc. on Jan. 12 raised its full-year earnings-per-share guidance to at least $2, the second time in two months it has raised expectations. In November, Kraft forecast e.p.s. of at least $1.97 per share, up from an earlier forecast of $1.93.
The company said the increased guidance reflects strong operating gains as well as a significant increase in marketing investments compared with a year ago.
“As we complete our turnaround, we’re delivering high-quality earnings growth, despite the difficult economic environment,” said Irene Rosenfeld, chairman and chief executive officer. “And we’re doing this while continuing to invest in our brands and businesses. As a result, we’re well positioned to deliver sustainable top-tier performance.
Shares of Kraft Foods rose as high as 2.7% to $30.10 in early morning trading on Jan. 13.