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Kraft Foods expects lower 4Q revenue

Published on NewsOK Modified: February 15, 2013 at 2:24 pm •  Published: February 15, 2013

"These are the choices we make as we roll out this playbook," said Vernon.

For 2013, Kraft now expects earnings of about $2.75 per share, up from approximately $2.60 per share. Analysts expected $2.66 per share.

Kraft said its full-year restructuring costs are now anticipated to be about $300 million, up from its prior forecast of approximately $240 million.

The company said it is implementing a four-part strategy to help better manage and lower the volatility of expenses and cash outlays related to its pension fund obligations. As part of this strategy, Kraft said that it will make a pension contribution of about $600 million in 2013. It anticipates level, annual pension contributions of about $225 million after that time. The company said that it expect the 2013 pension contribution to be funded with available cash. Future contributions are expected to be funded through cash flow from operations.

Kraft will report its final fourth-quarter and full-year results by March 29.

Its shares slipped 6 cents to $47.10 in afternoon trading.