Kraft Foods Boosts Full-Year View |
| Wall Street Journal - Sep 5, 2007 |
Kraft Foods Inc., which is wrestling with rising commodity costs, Wednesday boosted its full-year earnings estimates, citing its "confidence in its growth initiatives," pace of stock buybacks and a lower-than-expected tax rate.
Kraft boosted its full-year estimates to a range of $1.60 to $1.62 a share from a previous range of $1.50 to $1.55 a share. Excluding items, the Northfield, Ill., company said it expects to record per-share earnings of $1.80 to $1.82. The mean estimate of analysts surveyed by Thomson Financial is for earnings, excluding items, of $1.80 a share.
Kraft Chairman and Chief Executive Irene Rosenfeld presented the update at the Lehman Brothers Back-To-School Consumer Conference in Boston.
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- Posted: 2007-09-05 10:13:33
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