Kraft Heinz (KHC) Tops Q1 EPS by 13c, Revenues Beat

Kraft Heinz (NASDAQ: KHC) reported Q1 EPS of $0.72, $0.13 better than the analyst estimate of $0.59. Revenue for the quarter came in at $6.39 billion versus the consensus estimate of $6.24 billion.

• Q1 net sales increased 3.9% and Organic Net Sales(1) increased 2.5%
• Q1 gross profit increased 18.5%
• Q1 operating income increased 41.3%, net income increased 49.0%, and diluted EPS increased 48.4%
• Adjusted EBITDA(1) increased 11.6% and Adjusted EPS(1) increased 24.1%

“Our first quarter was better than expected, with our team delivering strong results on top of exceptional growth last year,” said Kraft Heinz CEO Miguel Patricio. “Looking forward, we will continue to focus on leveraging our tremendous scale by investing to improve our capabilities and overall agility. As we do, we believe we will come out of this period much stronger, operationally and financially, than we entered.”

For earnings history and earnings-related data on Kraft Heinz (KHC) click here.

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