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Kraft Heinz Q4 profit falls YOY

Kraft Heinz Co. said its fourth-quarter normalized net income was 78 cents per share, compared with the S&P Capital IQ consensus estimate of 87 cents per share.

EPS fell 18.4% year over year from 96 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $955.6 million, a decrease of 18.3% from $1.17 billion in the fourth quarter ended Jan. 3, 2016.

The normalized profit margin fell to 13.9% from 16.4% in the year-earlier period.

Total revenue declined on an annual basis to $6.86 billion from $7.12 billion, and total operating expenses increased year over year to $5.05 billion from $5.00 billion.

Reported net income increased 228.7% from the prior-year period to $931.8 million, or 76 cents per share, from $283.5 million, or 23 cents per share.

For the year, the company's normalized net income totaled $3.12 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $3.31.

EPS rose from $2.50 in the prior year.

Normalized net income was $3.83 billion, a rise from $1.97 billion in the prior year.

Full-year total revenue increased from the prior-year period to $26.49 billion from $18.34 billion, and total operating expenses increased year over year to $19.25 billion from $14.03 billion.

The company said reported net income totaled $3.45 billion, or $2.81 per share, in the full year, compared with a loss of $267.2 million, or a loss of 34 cents per share, the prior year.