Finance & Business World

H.J. Heinz Co., one of the world’s largest food companies, said Friday it anticipates full-year earnings above year-ago results.

The company narrowed its profit forecast to the top end of its prior forecast for earnings in a range of $2.60 to $2.62 per share, which would be a 9% to 10% increase from the prior year.

In September, the company said it expected profit near the upper end of previous earnings guidance of $2.54 to $2.60.

Analysts polled by Thomson Financial predict full-year net income of $2.62 per share.

Heinz, which makes ketchup and sauces, anticipates third-quarter earnings of 67 to 68 cents per share on an increased tax rate $1500 payday loan. It expects sales growth of about 14% partly due to the strength of its Heinz brand.

Analysts expect profit of 63 cents on revenue of $2.54 billion.

Heinz (HNZ, Fortune 500) expects third-quarter operating income will rise 8% on solid performance in North American consumer products, Europe, Asia/Pacific and other areas, partially offset by the U.S. foodservice business.

The company will report its third-quarter results on Feb. 26.

In Iowa, Heinz has factories in Cedar Rapids and Muscatine. 

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