Kraft Heinz Q2 2020 Earnings Report
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.
Kraft Heinz
Kraft Heinz
Kraft Heinz Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income