Originally published at www.seclive.com
Kraft Foods Group, Inc. (KRFT) announced its fourth quarter and annual results for the fiscal year 2013, posting earnings increases from the year-ago quarter and last full fiscal year. Net revenues for the quarter increased 3.2% due to increased volumes while full-year net revenues remained flat from a year ago. Quarterly earnings increased $1.39 per share while annual earnings per share increased $1.76. Free cash flow, impacted by $600M in pension plan contributions, was $1.5B in the 2013 fiscal year. CEO Tony Vernon commented that the company has had a great year as its first year as a public company. The company continues to invest in its brands and people and looks optimistically forward in the year-ahead.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.