Kraft Heinz Reports First Quarter 2020 Results

About this update from The Kraft Heinz Company

[{"type":"text","content":" PITTSBURGH & CHICAGO--(BUSINESS WIRE)--\nThe Kraft Heinz Company (Nasdaq: KHC) (“Kraft Heinz” or the “Company”) today reported first quarter 2020 financial results that reflected higher net sales and Organic Net Sales(1) 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.\n\n\n“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 last year, together with the flexibility, agility, and creativity of our people, and the tremendous collaboration with our retail customers, are all coming together. Going forward, we have a singular focus: to meet the demand for our products and ensure consumers have the food and nourishment they need during these uncertain times.”\n\n\nQ1 2020 Financial Summary\n\n\n\n\n \n\n\n\nFor the Three Months Ended\n\n\n\n \n\n\n\nYear-over-year Change\n\n\n\n\n\n \n\n\n\nMarch 28,\n\n\n2020\n\n\n\n \n\n\n\nMarch 30,\n\n\n2019\n\n\n\n \n\n\n\nActual\n\n\n\n \n\n\n\nCurrency\n\n\n\n \n\n\n\nAcquisitions\n\n\nand\n\n\nDivestitures\n\n\n\n \n\n\n\nOrganic\n\n\n\n\n\n \n\n\n\n(in millions, except per share data)\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nNet sales\n\n\n\n$\n\n\n\n6,157\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n5,959\n\n\n\n \n\n\n\n \n\n\n\n3.3\n\n\n\n%\n\n\n\n \n\n\n\n(1.1) pp\n\n\n\n \n\n\n\n(1.8) pp\n\n\n\n \n\n\n\n6.2\n\n\n\n%\n\n\n\n\n\nOperating income/(loss)\n\n\n\n770\n\n\n\n \n\n\n\n \n\n\n\n562\n\n\n\n \n\n\n\n \n\n\n\n37.1\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nNet income/(loss) attributable to common shareholders\n\n\n\n378\n\n\n\n \n\n\n\n \n\n\n\n405\n\n\n\n \n\n\n\n \n\n\n\n(6.7)\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nDiluted EPS\n\n\n\n$\n\n\n\n0.31\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.33\n\n\n\n \n\n\n\n \n\n\n\n(6.1)\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAdjusted EBITDA(1)\n\n\n\n1,415\n\n\n\n \n\n\n\n \n\n\n\n1,431\n\n\n\n \n\n\n\n \n\n\n\n(...

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