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Sep 26, 2020
Kraft Heinz Q3 2020 Earnings Report
Reported net sales growth across all six Consumer Platforms due to sustained at-home consumption momentum.
Key Takeaways
Kraft Heinz reported a 6.0% increase in net sales and a 6.3% increase in Organic Net Sales for Q3 2020. The company has raised its full-year outlook to mid-single-digit Organic Net Sales growth and high-single-digit Constant Currency Adjusted EBITDA growth.
Q3 net sales increased 6.0%; Organic Net Sales increased 6.3%.
Q3 gross profit increased 20.4%.
Q3 operating income declined 2.8%, net income attributable to common shareholders decreased 33.7%, and diluted EPS decreased 33.8% due to charges related to the pending Cheese Transaction.
Adjusted EBITDA increased 13.5% and Adjusted EPS increased 1.4%.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company believes mid-single-digit Organic Net Sales growth and high-single-digit Constant Currency Adjusted EBITDA growth versus the prior year period are reasonable expectations for fourth-quarter performance. This would result in mid-single-digit Organic Net Sales growth and high-single-digit Constant Currency Adjusted EBITDA growth for the full year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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