Kraft Heinz reports higher first-quarter sales and net income
Updated
Updated · The Wall Street Journal · May 6
Kraft Heinz reports higher first-quarter sales and net income
9 articles · Updated · The Wall Street Journal · May 6
Sales rose 0.8% to $6.05 billion and net income reached $799 million, while adjusted earnings of 58 cents a share beat FactSet forecasts of 50 cents.
Organic sales fell 0.4% as price increases of 0.8% offset higher input costs, while volume and mix dropped 1.2%, partly because of weaker coffee and cold-cuts sales.
The company maintained its full-year outlook for organic sales to decline 1.5% to 3.5% and has paused a planned split as CEO Steve Cahillane prioritises marketing, R&D and innovation.
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