On a more positive note, these commodity squeezes come and go, and Heinz has been through them before. Even better for investors, the company appears to have a solid long-run plan that could establish Heinz as a significant global brand for a long time to come.
A Mediocre Third Quarter
The best thing that can likely be said about Heinz's third quarter is that it was consistent with a pre-announcement and the company will not be disappointing anyone with these results. Revenue rose 1.5% as reported, with 2% organic growth in the North American Consumer business. Overall volume growth across the business came in at 0.5% - a fairly tepid result but a sequential improvement.
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