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Kraft Heinz: Q2 earnings reach $265m

( - Net sales fell 0.
9% y-o-y to 6.6 billion dollars in Q2 2022.

Meanwhile, organic net sales increased 10.1% y-o-y.

Earnings came in at 265 million dollars (vs. loss of 27 million dollars a year ago), while adjusted EBITDA fell 10.9% y-o-y to 1.5 billion dollars.

Adjusted EPS was $0.70, down 10.3% from the same period last year.

The group has increased its full-year outlook for organic net sales, although is maintaining previous expectations for adjusted EBITDA, targeting between 5.8 and 6.0 billion dollars.

The share is down almost 1% in pre-market trading today.

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