Shares of food and beverage major The Kraft Heinz Company (KHC) declined marginally on Wednesday, even though the company reported better-than-expected third-quarter 2021 results. The stock, however, pared its loss slightly to close at $36.45 in the extended trading session. Quarterly net sales declined 1.8% year-over-year to $6.3 billion due to a fall in U.S. net sales to $4.5 billion from $4.7 billion last year. However, the overall net sales figure surpassed the consensus estimate of $6.02 billion. Earnings of $0.65 per share indicate a fall of 7.1% year-over-year but were able to beat the Street's estimate of $0.58 per share.
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