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Kraft Heinz Reports Over 6B Dollars in Q1 2022 Financial Results; Miguel Patricio Comments

Kraft Heinz Reports Over 6B Dollars in Q1 2022 Financial Results; Miguel Patricio Comments


PITTSBURGH, PA & CHICAGO, IL
Monday, May 2nd, 2022

Despite inflation, logistical challenges, and transportation hurdles, the Kraft Heinz Company has proven its resilience with the release of its first-quarter 2022 financial results. Detailing over $6 billion in total net sales across the United States and international markets, the company has seen strong price realization, retail demand, and foodservice growth.

Miguel Patricio, Chief Executive Officer, Kraft Heinz Company"Our first quarter was a strong start to the year and yet another period where our team rose to mitigate new and different macro environment challenges," said Chief Executive Officer Miguel Patricio. "We continue to build critical capabilities, greater corporate agility, and additional financial flexibility to address short-term turmoil while building our long-term advantage. We still have work to do, more opportunity ahead, and we remain confident in our ability to deliver our plan for the year as well as our long-term growth strategy."

In total, Kraft Heinz brought in $4.2 billion in net sales for the U.S. alone, the report showed. Additionally, the company showed that its organic net sales increased 6.8 percent versus the prior year. Other highlights include:

  • Net income of $781 million, an increase of 37.5 percent from the year prior
  • An adjusted EBITDA of $1.3 billion
  • Gross profit of $1.9 billion

Detailing over $6 billion in total net sales across the United States and international markets, the company has seen strong price realization, retail demand, and foodservice growth

Moving forward, the company expects its strong financial performance to continue throughout 2022. Kraft Heinz will also continue to increase its efforts to manage inflationary pressures, including unlocking gross efficiencies, as it continues to invest in long-term growth.

To read the financial report in its entirety, click here.

With an already strong start to the fiscal year, what will the rest of 2022 hold for Kraft Heinz? Stay tuned to Deli Market News for the answers.

Kraft Heinz Company
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