NORTHFIELD, IL
Kraft Foods Group, Inc. has announced financial results reflective of significant pricing actions and favorable shift in Easter-related shipments over the previous year.
“Our first quarter results reflected a solid start to 2015,” said Kraft Chairman and CEO John T. Cahill. “We’ve stepped up our focus on execution, our pricing actions over the past year are coming through, and we’re benefiting from a disciplined approach to marketing.”
For the quarter, net revenues were down 0.2% including a negative impact form currency, and organic net revenues rose 1.1%. The company also saw operating income of $740 million and EPS of $0.72.
Other business segment highlights from report include:
Cahill added, “There is clearly more work ahead of us, but we will continue to build on this momentum to delight our consumers and customers, and prepare us for the next chapter ahead.”
Looking forward to that next chapter, Kraft is due for some big changes. As we previously reported, the H.J. Heinz Company announced that it is merging with the Kraft Food Group in a union valued at about $46 billion.
Heinz shareholders will own 51% of the combined company with Kraft shareholders owning the remaining 49%.
