Press release
Kraft Heinz Reports Third Quarter 2020 Results
Q3 net sales increased 6.0%; Organic Net Sales(1) increased 6.3% Q3 gross profit increased 20.4% Q3 operating income declined 2.8%, net income attributable
About this update from The Kraft Heinz Company
[{"type":"text","content":"\n\nQ3 net sales increased 6.0%; Organic Net Sales(1) increased 6.3% \n\n\nQ3 gross profit increased 20.4%\n\n\nQ3 operating income declined 2.8%, net income attributable to common shareholders decreased 33.7%, and diluted EPS decreased 33.8% due to charges related to the pending Cheese Transaction(2)\n\n\nAdjusted EBITDA(1) increased 13.5% and Adjusted EPS(1) increased 1.4%\n\n\nFull-year outlook raised to mid-single-digit Organic Net Sales(3) growth and high-single-digit Constant Currency Adjusted EBITDA(1)(3) growth \n\n\n PITTSBURGH & CHICAGO--(BUSINESS WIRE)--\nThe Kraft Heinz Company (Nasdaq: KHC) (“Kraft Heinz” or the “Company”) today reported financial results for the third quarter of 2020 that reflected net sales growth across all six Consumer Platforms due to sustained at-home consumption momentum.\n\n“The continuation of our strong growth into the third quarter is a reflection of the agility we are creating as an organization and because of that, we are raising our outlook for the full year,” said Kraft Heinz CEO Miguel Patricio. “We are building momentum, and we are confidently optimistic about our near-term performance. We are heading into 2021 with our new operating model fully implemented, our platform strategy coming to life in the marketplace, and our growth investments ramping up. And although there are multiple future scenarios we must plan for and manage against, we are in a strong position to both accelerate and exceed the strategic plan we finalized earlier this year.”\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\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\nNet Sales\n\n\n\n \n\n\n\nOrganic Net Sales(1) Growth\n\n\n\n\n\n \n\n\n\n \n\n\n\nSeptember 26,\n\n\n2020\n\n\n\n \n\n\n\nSeptember 28,\n\n\n2019\n\n\n\n \n\n\n\n% Chg vs\n\n\nPY\n\n\n\n \n\n\n\nYoY Growth\n\n\nRate\n\n\n\n \n\n\n\nPrice\n\n\n\n \n\n\n\nVolume/Mix\n\n\n\n\n\nFor the Three Months Ended\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\nUnited States(4)\n\n\n\n \n\n\n\n$\n\n\n\n4,710\n\n\n\n \n\n\n\n$\n\n\n\n4,385\n\n\n\n \n\n\n\n7.4%\n\n\n\n \n\n\n\n7.4%\n\n\n\n \n\n\n\n4.0 pp\n\n\n\n \n\n\n\n3.4 pp\n\n\n\...