Kraft Heinz Q4 2019 Earnings Report
Key Takeaways
Kraft Heinz reported Q4 2019 financial results with net sales decreasing by 5.1% to $6.5 billion. Net income attributable to common shareholders increased to $182 million, and diluted EPS increased to $0.15. Adjusted EPS decreased 14.3% to $0.72.
Net sales were $6.5 billion, down 5.1 percent versus the year-ago period.
Net income attributable to common shareholders increased to $182 million and diluted EPS increased to $0.15, primarily reflecting lower non-cash impairment charges recognized in the current year period.
Adjusted EBITDA decreased 6.6 percent versus the year-ago period to $1.6 billion.
Adjusted EPS decreased 14.3 percent to $0.72, reflecting lower Adjusted EBITDA, a higher effective tax rate, and higher stock-based compensation versus the prior year period.
Kraft Heinz
Kraft Heinz
Forward Guidance
The turnaround will take time, but Kraft Heinz expects to make significant progress in 2020, laying a strong foundation for future growth.