Q1 Earnings Estimates for Kraft

I’m short on time, but I wanted to get this out as soon as possible.  There’s more to come…

Kraft Q1 Earnings Estimates

Q1 Revenue:  $11.16 Bil

Q1 EPS:  $0.48

Income Statement
Three months ended March 31, 2010
Revenue	$11,155
Cost of Sales	$7,128
Gross Profit	$4,027
Operating Expenses:
M.A.R.	$2,651
Amortization	$7
Misc	-$15
Total	$2,643
Income from Operations	$1,384
Interest Expense	$336
Income before Taxes	$1,048
Provision for Income Taxes	$326
Noncontrolling Interest	$2
Net Income	$719
Diluted EPS	$0.48

Current Street consensus has Q1 Revenue at $10.95 Bil and Q1 EPS at $0.45.  Both of my estimates are slightly higher.  There is a wide range of predictions among analysts, so tomorrow afternoon’s report should be very interesting.

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Disclaimer:
· Opinions, estimates and projections contained in this report are of the author as of the date published and are subject to change without notice.
· This report is not, nor should it be construed as, an offer to sell or solicitation of an offer to buy any securities.
· Unless otherwise noted, all research reports provide information of a general nature and do not address the circumstances of any particular investor.