Heinz Beats Q1 Estimates, Reaffirms FY 2010 Guidance (HNZ)

Thu. August 20, 2009; Posted: 08:48 AM

Aug 20, 2009 (SmarTrend(R) News Watch via COMTEX) -- HNZ | Quote | Chart | News | PowerRating -- 8/20/2009 - The H.J. Heinz Company (NYSE:HNZ) reported fiscal Q1 EPS of 67 cents, ex-items, topping the consensus estimates of 62 cents per share. Revenues for the quarter fell 4.6% to $2.46 billion, ahead of the consensus estimates of $2.44 billion. President and CEO William R. Johnson said, " Led by strong organic sales growth in Emerging Markets, our sharply focused global portfolio of leading brands performed well, especially in our core categories of Ketchup and Sauces and Infant/Nutrition, even as the recession continued to impact consumer behavior. At the same time, Heinz delivered robust cash flow, reflecting our strong focus on working capital and in particular on reducing inventory." The company reaffirmed its full-year 2010 guidance of a sales growth of 4% to 6% and EPS growth of 5% to 8%.

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on H.J. Heinz Co (HNZ) click here. H.J. Heinz Co (HNZ) has Short Term PowerRatings of 5. Details on H.J. Heinz Co (HNZ) Short Term PowerRatings is available at This Link.

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