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A stronger greenback typically eats into profits of companies such as Kraft Heinz (NASDAQ:KHC) that have sprawling global operations and convert foreign currencies into dollars.
The company expects annual adjusted earnings of between $2.67 and $2.75 per share, below analysts’ average estimate of $2.77 per share in Refinitiv IBES data.
The Heinz ketchup maker’s net sales rose to $7.38 billion in the fourth quarter from $6.71 billion a year earlier. Analysts on average had expected sales of $7.27 billion.
It reported net income attributable to common shareholders of $890 million, or 72 cents per share, in the quarter ended Dec. 21, from a loss of $257 million, or 21 cents per share, a year earlier.
