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Jun 27, 2020
Kraft Heinz Q2 2020 Earnings Report
Financial results for the second quarter of 2020 reflected solid net sales growth and Organic Net Sales growth, but also included non-cash impairment charges related to goodwill and intangible assets.
Key Takeaways
Kraft Heinz reported a 3.8% increase in net sales and a 7.4% increase in Organic Net Sales compared to the previous year. However, the company also recorded non-cash impairment charges of approximately $1.8 billion in goodwill and $1.1 billion in intangible assets, resulting in a net loss attributable to common shareholders of $1.7 billion.
Net sales increased 3.8 percent versus the year-ago period to $6.6 billion.
Organic Net Sales increased 7.4 percent, driven by increased retail demand.
Adjusted EBITDA in the second quarter increased 12.4 percent versus the year-ago period to $1.8 billion.
Adjusted EPS increased 2.6 percent to $0.80.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Kraft Heinz did not provide specific forward guidance in this earnings report. However, they mentioned plans to share more details on their initiatives during their Investor Day in September.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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