Kraft Foods Inc. Reports Strong First Quarter
Kraft Foods Inc. reported strong first quarter 2011 results, driven by continued investments in marketing and innovation combined with aggressive cost management.
"At the same time, raw material costs continue to escalate and the economic environment remains unsettled," he continued. "Our updated earnings guidance reflects this strong business momentum, consistent with our previous guidance of 11 to 13 percent Operating EPS growth, while recognizing recent changes in the U.S. premium coffee business."
Specifically, the company now expects to deliver organic net revenue growth of at least 4 percent, excluding the impact of accounting calendar changes, and Operating EPS of at least $2.20.
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