Kraft Foods Q3 Profit Decreases - Quick Facts

(RTTNews) - Kraft Foods Group, Inc. (KRFT) reported third-quarter net earnings of $446 million or $0.74 per share compared to $500 million or $0.83 per share, last year. The company's EPS included a $0.03 negative impact from market-based impacts to post-employment benefit plans and a $0.01 unfavorable impact due to unrealized gains/losses from hedging activities. Kraft Foods noted that its financial results for the third quarter of 2014 reflected significant pricing actions to offset higher commodity costs as well as lower volume/mix versus the prior year quarter.

On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.74 for the quarter. Analysts' estimates typically exclude special items.

Net revenues were $4.40 billion, compared to $4.39 billion, a year ago. Analysts expected revenue of $4.47 billion for the quarter. Organic net revenues increased 0.9 percent as pricing to offset significant rises in commodity costs contributed 2.1 percentage points of growth, the company said.

"We remain on track to deliver earnings growth consistent with the expectations we laid out at the start of the year, despite a rapidly changing consumer environment. To date, our implementation of commodity-based pricing has been successful. But in other areas, our execution has been mixed. We will continue to apply our playbook, improve our execution, and proactively adapt to drive profitable growth now and in the future," said Kraft CEO Tony Vernon.