Press release
Kraft Heinz Reports Second Quarter 2023 Results
Reaffirms Full Year Outlook Second Quarter Highlights Net sales increased 2.6%; Organic Net Sales(1) increased 4.0% Gross profit margin increased 337 basis
About this update from The Kraft Heinz Company
[{"type":"text","content":"\nReaffirms Full Year Outlook\n\n\nSecond Quarter Highlights\n\n\n\nNet sales increased 2.6%; Organic Net Sales(1) increased 4.0%\n\n\n\n\nGross profit margin increased 337 basis points to 33.6%; Adjusted Gross Profit Margin(1) increased 180 basis points to 33.3%\n\n\n\n\nNet income increased 277.0%; Adjusted EBITDA(1) increased 6.0%\n\n\n\n\nDiluted EPS was $0.81, up 285.7%; Adjusted EPS(1) was $0.79, up 12.9%\n\n\n\n PITTSBURGH & CHICAGO--(BUSINESS WIRE)--\nThe Kraft Heinz Company (Nasdaq: KHC) (“Kraft Heinz” or the “Company”) today reported financial results for the second quarter of 2023.\n\n\n\"We delivered strong second quarter results, growing net sales, profits and profitability. This is consistent with our strategy to accelerate profitable growth,\" said Kraft Heinz CEO and Chair of the Board Miguel Patricio. \"We grew across each of our three pillars: Foodservice, Emerging Markets, and U.S. Retail Grow Platforms. Importantly, we grew profits while also investing in marketing, research & development, and technology, which we funded through gross efficiencies.\"\n\n\n\"While we did face headwinds in the second quarter, particularly within U.S. market share performance, the action plans we laid out in the first quarter resulted in share trend improvement each month. We expect these action plans, along with continued strong execution from our teams, to drive momentum through the second half of the year. Overall, our results give me confidence in the direction we are headed. As a result, we are reiterating our full-year outlook.\"\n\n\n\n\nNet Sales\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\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\n\n\n\n \n\n\n\n\n\n\n\n\nIn millions\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\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\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\n\n\n\n\n\nOrganic Net Sales(1)\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nJuly 1,\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nJune 25,\n2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n% Chg vs\nPY\n\n\n\n\n\n\n \n\n\n\n\n\n\nYoY Growth\nRate\n\n\n\n\n\n\n \n\n\n\n\n\n\nPrice\n\n\n\n\n\n\n \n\n\n\n\n\n\nVolume/\nMix\n\n\n\n\n\n\n\n\nFor the Thre...