Kraft Heinz (KHC) Tops Q2 EPS by 6c

Kraft Heinz (NASDAQ: KHC) reported Q2 EPS of $0.78, $0.06 better than the analyst estimate of $0.72. Revenue for the quarter came in at $6.6 billion versus the consensus estimate of $6.53 billion.

Outlook:

Based on performance to date, while the Company continues to expect it will deliver 2021 Adjusted EBITDA ahead of its strategic plan, it now expects Adjusted EBITDA to be ahead of 2019 as well. The Company views comparison to the 2019 period to be more meaningful than the comparable 2020 period given the exceptional, COVID-19-related consumer demand changes experienced in the 2020 period.

For the third quarter of 2021, the Company currently expects a mid-single-digit percentage increase in Organic Net Sales(2) and a low-single-digit percentage decline in Constant Currency Adjusted EBITDA(1)(2) versus the third quarter of 2019. This outlook corresponds to a low-single-digit percentage decline in Organic Net Sales(2) and a low-teens percentage decline in Constant Currency Adjusted EBITDA(2) versus the comparable 2020 period.

For earnings history and earnings-related data on Kraft Heinz (KHC) click here.

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