Venus Wafers - The Original Mariner Biscut Company - Made simple - Made right
Kraft Heinz Announces Q1 Results, Sees Significant Gains from Cost Savings Initiatives

Kraft Heinz Announces Q1 Results, Sees Significant Gains from Cost Savings Initiatives

Thursday, May 4th, 2017

The Kraft Heinz Company reported its first quarter 2017 financial results, with an eye on stronger quarters to come.

Bernardo Hees, CEO, The Kraft Heinz Company"Although our top line results in the first quarter reflect a slow start to the year, we remain on track with our key initiatives," said CEO Bernardo Hees. "We are delivering product innovations, renovations, and geographic expansion that positions Kraft Heinz to drive organic sales growth for the balance of 2017 and beyond. We also have good visibility on costs, savings and what we must do to deliver another year of profitable growth for The Kraft Heinz Company."

A one year snapshot of The Kraft Heinz Company's stock.

Net sales were $6.4 billion, down 3.1 percent versus net sales for the year-ago period, according to the report. This included an “unfavorable” 0.4 percentage point impact from currency. Highlighted results included:

  • Q1 net sales decreased 3.1%; Organic Net Sales decreased 2.7% including Easter shift and other factors in North America affecting comparisons with prior year
  • Q1 net income attributable to common shareholders decreased 0.3%; Adjusted EBITDA decreased 2.4% on a constant currency basis
  • Q1 diluted EPS of $0.73 was flat to the prior year; Adjusted EPS increased to $0.84 from $0.73 the prior year

United States net sales were $4.6 billion, down 3.5 percent versus the year-ago period, while pricing increased 0.7 percentage points primarily due to price increases in cheese.

The company noted that volume/mix decreased 4.2 percentage points, citing a combination of light consumption across categories, primarily driven by calendar shifts, as well as select distribution losses in the club channel.

The categories it said were most affected by these factors were foodservice, cheese, meats, and nuts. The continued growth from Lunchables, and innovation-led growth in frozen meals and macaroni and cheese, were able to partially offset those declines.

As the company look towards strengthening quarters, Deli Market News will report the latest.

Kraft Heinz Company

Venus Wafers - The Original Mariner Biscut Company - Made simple - Made right

Have a new product, press release or story idea?

Let us know

In This Story

H.J. Heinz Company and Kraft Foods Group have completed the merger, becoming the 3rd largest food and beverage company in North America and the 5th largest in the world.

Ice-O-Matic Honors Norm’s Refrigeration with Distributor of the Year Award

The global ice machine manufacturer names its Distributor of the Year for 2018.
View Press Release

Portion Controlled Meat & Cheese Products as Value-Added Service

Processors gain a competitive edge by providing QSR and grab n’ go deli establishments with ready to use, pre-sliced, interleaved portions of meat and cheese
View Press Release

WCMA to Award $15,000 in Student Scholarships in 2019 Supporting Cheesemaking’s Next Generation

Students interested in being considered for an award have until February 20 to submit an application.
View Press Release