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Kraft Heinz Reports Second Quarter 2020 Results
The Kraft Heinz Company reported financial results for the second quarter of 2020 that reflected solid net sales growth of 3.8 percent and Organic Net Sales growth of 7.4 percent versus the year-ago period due to strong retail performance across all business segments. Results also included non-cash impairment charges related to goodwill and intangible assets.
“Our response to the ongoing COVID-19 pandemic reflects the hard work and dedication of our remarkable employees around the world,” said Kraft Heinz CEO Miguel Patricio. "We are now starting to realize the benefits of agility and scale, while implementing changes across the Company to further drive agility, both internally and how we go to market. We believe this will be the key to...
Kraft Heinz Reports First Quarter 2020 Results
The Kraft Heinz Company reported first quarter 2020 financial results that reflected higher net sales and Organic Net Sales growth due to strong demand for its leading brands, as well as the impact of divestitures, unfavorable currency, and higher costs versus the prior year.
“Our first quarter results reflect how strongly our employees have responded to the global COVID-19 challenge and the exceptional level of service our teams have demonstrated during this critical time; and for that, it is an incredible privilege to be part of the Kraft Heinz Company,” said Kraft Heinz CEO Miguel Patricio. "The transformation work we kicked off...
Kraft Heinz Provides Business Update Relating to COVID-19 Outbreak
As communities around the world struggle to cope with the real-life implications of the Coronavirus (COVID-19) outbreak, The Kraft Heinz Company is providing an update on its response to the pandemic, the rescheduling of its upcoming Investor Day and business impacts to date, ahead of its first quarter 2020 earnings call later this month.
Response to the Outbreak
“Right now, our mission as a company has never been clearer: we have a huge responsibility to keep feeding the world,” said CEO Miguel Patricio. “Each leader on our team is focused on making the Company and our global business as flexible and agile as possible to meet demand forecasts that are...
Kraft Heinz Reports Fourth Quarter and Full Year 2019 Results
The Kraft Heinz Company today reported fourth quarter and full year 2019 financial results.
“While our 2019 results were disappointing, we closed the year with performance consistent with our expectations, and driven by factors we anticipated,” said Kraft Heinz CEO Miguel Patricio. "We have taken critical actions over the past six months to re-establish visibility and control over the business. And we remain convinced Kraft Heinz has the potential to achieve best-in-class financial performance as we begin transforming our capabilities and making necessary investments in our brands based on deep consumer insights. Our turnaround will take time, but we expect to make significant progress in 2020, laying a strong foundation for future growth.”
Q4 2019 Financial Summary
Net sales were $6.5 billion, down 5.1 percent versus the year-ago period, including a negative 2.3 percentage point impact from divestitures and...
Kraft Heinz Reports Third Quarter 2019 Results
The Kraft Heinz Company today reported third quarter 2019 financial results that reflected a one-time gain on the sale of the Company's Canadian natural cheese business, lower net sales, and higher input costs.
“While our third-quarter results remain below our potential, we showed sequential improvement versus the first half, and I believe we are beginning to operate the business better,” said Kraft Heinz CEO Miguel Patricio. "We are making good progress in identifying and addressing the root causes of past performance, as well as setting our strategic direction. Although there is still much work ahead, we’re encouraged by our improving performance, and...
Kraft Heinz Reports Preliminary Financial Results for the First Half Of 2019
The Kraft Heinz Company (Nasdaq: KHC) (“Kraft Heinz” or the “Company”) today reported preliminary financial results for the first half of 2019 that reflected lower net sales despite improving consumer takeaway trends in key markets, as well as the adverse impacts of ongoing cost inflation, greater investments, and higher depreciation and amortization expenses. Results also included preliminary non-cash impairment charges related to goodwill and intangible assets that more than offset a one-time gain on the sale of the Company's India nutritional beverages business.
“The level of decline we experienced in the first half of this year is nothing we should find acceptable moving forward," said Kraft Heinz CEO Miguel Patricio. "We have significant work ahead of us to set our strategic priorities and change...
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