Press release
Kraft Heinz Reports Fourth Quarter and Full Year 2019 Results
PITTSBURGH & CHICAGO--(BUSINESS WIRE)-- The Kraft Heinz Company (Nasdaq: KHC) (“Kraft Heinz” or the “Company”) today reported fourth quarter and full year
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 fourth quarter and full year 2019 financial results.\n\n\n“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.”\n\n\nQ4 2019 Financial Summary\n\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\n\nDecember 28,\n2019\n\n\n\n \n\n\n\nDecember 29,\n2018\n\n\n\n \n\n\n\nActual\n\n\n\n \n\n\n\nCurrency\n\n\n\n \n\n\n\nAcquisitions\nand\nDivestitures\n\n\n\n \n\n\n\nOrganic\n\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$\n\n\n\n6,536\n\n\n\n \n\n\n\n$\n\n\n\n6,891\n\n\n\n \n\n\n\n(5.1)%\n\n\n\n \n\n\n\n(0.6) pp\n\n\n\n \n\n\n\n(2.3) pp\n\n\n\n \n\n\n\n(2.2)%\n\n\n\n\n\nOperating income/(loss)\n\n\n\n\n594\n\n\n\n \n\n\n\n(14,136)\n\n\n\n \n\n\n\nnm\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\n\n182\n\n\n\n \n\n\n\n(12,568)\n\n\n\n \n\n\n\nnm\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$\n\n\n\n0.15\n\n\n\n \n\n\n\n$\n\n\n\n(10.30)\n\n\n\n \n\n\n\nnm\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\n\n1,564\n\n\n\n \n\n\n\n1,674\n\n\n\n \n\n\n\n(6.6)%\n\n\n\n \n\n\n\n(1.3) pp\n\n\n\n \n\n\n\n(1.5) pp\n\n\n\n \n\n\n\n \n\n\n\n\n\nAdjusted EPS(1)\n\n\n\n\n$\n\n\n\n0.72\n\n\n\n \n\n\n\n$\n\n\n\n0.84\n\n\n\n \n\n\n\n(14.3)%\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\nnm - not meaningful\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 \n\n\n...