Heinz Beats Expectations, Raises Full-Year Outlook

HJ Heinz Company (NYSE: HNZ) reported EPS of .76 compared to analysts estimates of .69 EPS for the second quarter period ending October 1, 2009. The company reported strong financial results, with 2.5% growth in sales, 6% growth in operating income. According to a statement, the company attributes the favorable results to 11.7% growth in organic sales in emerging markets.

Heinz also raised its full year fiscal 2010 EPS outlook to a range of $2.72 to $2.82, from its previous target of $2.60 to $2.70.

Heinz Chairman, President and CEO William R. Johnson said, “Heinz delivered a strong financial performance in an adverse economic climate, led by our growing strength in emerging markets. Looking forward, the company is raising its full-year outlook for earnings and cash flow and we expect increased top-line momentum in the second half of the fiscal year.”