UPDATE: Kraft Heinz (KHC) Tops Q2 EPS by 7c, Revenues Beat
Kraft Heinz (NASDAQ: KHC) reported Q2 EPS of $1.00, $0.07 better than the analyst estimate of $0.93. Revenue for the quarter came in at $6.69 billion versus the consensus estimate of $6.61 billion.
- Q2 net sales increased 0.7%; Organic Net Sales(1) decreased 0.4%
- Q2 diluted EPS was $0.62; Adjusted EPS(1) increased to $1.00, up from $0.98 the prior year
“Our results through the first half were stronger than the expectations we put forward as recently as three months ago, and we have been even more encouraged by our recent performance in the marketplace,” said Kraft Heinz CEO Bernardo Hees. “We believe we are now in a position to drive sustainable top-line growth from a strong pipeline of new product, marketing and whitespace initiatives that are backed by investments in capabilities for brand and category advantage. And while cost inflation on many fronts has been holding back our bottom line, we expect our profitability to improve by year-end, with further momentum into 2019.”
For earnings history and earnings-related data on Kraft Heinz (KHC) click here.