Kraft Heinz (KHC) Stock Down Ahead of Earnings

Kraft Heinz (KHC) stock is declining before the company releases its financial results for the third quarter of 2015 this afternoon after the market close.
By Amanda Gomez ,

NEW YORK (TheStreet) -- Kraft Heinz Co. (KHC) - Get Report stock is falling 0.69% to $75.30 in late morning trading on Thursday, before the company reports its financial results for the 2015 third quarter, expected after the market close this afternoon.

This afternoon's report will be the second the company releases after the merger between Kraft Foods Group and H.J. Heinz Co. closed in July, but the first to include combined data.

The food company is expected to report earnings of 62 cents per share on $6.7 billion in revenue, according to analysts surveyed by Thomson Reuters.

Last year, Kraft Foods posted earnings of 74 cents per share on $4.4 billion in revenue for the 2014 third quarter.

H.J. Heinz's financial information is unavailable because the company was privately held since 2013.

On Wednesday, Kraft Heinz announced it will close seven North American manufacturing facilities, cutting about 2,600 jobs, as the company seeks to increase consolidation and productivity, CNBC.com reported.

Insight from TheStreet's Rating Team

Kraft Heinz is a holding of Jim Cramer'sAction Alerts PLUS charitable trust portfolio. Here's what Cramer, portfolio manager, and Jack Mohr, research director, had to say about the company's earnings in the latest "Weekly Roundup":

The company has yet to provide guidance so it would not be surprising for consensus expectations to be somewhat different from actual results.

Both brands remain strong and we are confident in the longer-term prospects of the combination, especially as 3G Capital makes its imprint on the company and expands margins. Our target remains $90.

Jim Cramer and Jack Mohr's "Weekly Roundup" was originally published on 10/30/15 on Action Alerts PLUS

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