Kraft Heinz: Q2 results exceed consensus
(CercleFinance.com) - Kraft Heinz has reported Q2 net income that is down 35% at 756 million dollars, or 62 cents per share, although adjusted EPS increased 2% to one dollar, or 8 cents above the consensus.
The agri-food group's adjusted EBITDA fell 4.4% to under 2 billion dollars, with sales that were virtually flat (+0.7%) at 6.7 billion dollars, positive FX factors and changes in the group's consolidation scope offsetting a 0.4% organic decline in sales.
"While cost inflation on many fronts has been holding back our bottom line, we expect our profitability to improve by year-end, with further momentum into 2019,” said group CEO Bernardo Hees.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The agri-food group's adjusted EBITDA fell 4.4% to under 2 billion dollars, with sales that were virtually flat (+0.7%) at 6.7 billion dollars, positive FX factors and changes in the group's consolidation scope offsetting a 0.4% organic decline in sales.
"While cost inflation on many fronts has been holding back our bottom line, we expect our profitability to improve by year-end, with further momentum into 2019,” said group CEO Bernardo Hees.
Copyright (c) 2018 CercleFinance.com. All rights reserved.