UPDATE 1-Kraft Heinz beats quarterly sales estimates

Kraft Heinz Company

Kraft Heinz Company

KHC

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Adds shares and details

- Jell-O maker Kraft Heinz KHC.O beat first-quarter sales estimates on Wednesday, buoyed by improving demand in its U.S. business and pointing to early gains from new CEO Steve Cahillane's strategy, sending its shares up 3% before the bell.

Still, the packaged-food maker maintained its annual forecasts, and Cahillane said the decision reflects an operating environment that remains volatile, with increasing inflationary pressures and persistently low consumer sentiment.

The company reported quarterly sales of $6.05 billion, compared with analysts' estimate of $5.89 billion, according to data compiled by LSEG.