H. J. Heinz
The 10-second takeaway
For the quarter ended Oct. 28 (Q2), H. J. Heinz met expectations on revenues and beat slightly on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share grew significantly.
Gross margins grew, operating margins shrank, net margins expanded.
H. J. Heinz booked revenue of $2.83 billion. The 13 analysts polled by S&P Capital IQ looked for a top line of $2.85 billion on the same basis. GAAP reported sales were 0.2% lower than the prior-year quarter's $2.83 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.90. The 17 earnings estimates compiled by S&P Capital IQ forecast $0.88 per share. GAAP EPS of $0.90 for Q2 were 23% higher than the prior-year quarter's $0.73 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 35.8%, 60 basis points better than the prior-year quarter. Operating margin was 13.9%, 10 basis points worse than the prior-year quarter. Net margin was 10.2%, 180 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $2.99 billion. On the bottom line, the average EPS estimate is $0.93.
Next year's average estimate for revenue is $11.72 billion. The average EPS estimate is $3.54.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 844 members out of 893 rating the stock outperform, and 49 members rating it underperform. Among 298 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 289 give H. J. Heinz a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on H. J. Heinz is outperform, with an average price target of $57.18.
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