H.J. Heinz Co. said Thursday that its fiscal first-quarter profit fell 7 percent partly on the stronger dollar, but the results topped analysts' estimates.
The maker of products like Heinz Ketchup and Ore-Ida fries earned $212.6 million, or 67 cents per share, compared with $229 million, or 72 cents per share, a year earlier.
Analysts predicted profit of 62 cents per share, according to a Thomson Reuters survey. Analysts' estimates normally exclude one-time items.
Shares of Heinz rose $1.05, or 2.8 percent, to $39 in premarket trading.
Chairman, President and CEO William R. Johnson said in a statement that some of its core categories were among the strongest performers, including its ketchups and sauces as well as infant/nutrition.
Its top 15 brands globally made up about 70 percent of reported sales, led by its Heinz brand, Ore-Ida potatoes and T.G.I. Friday's snacks and skillet meals.
Heinz has continued to put money toward its marketing efforts as well as some innovations — such as different types of packaging — to keep consumers aware of its brands and spark purchases. The company spent $16 million in upfront costs for new productivity initiatives during the quarter.
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