Kraft Heinz (NASDAQ: KHC) reported Q1 EPS of $0.58, $0.03 better than the analyst estimate of $0.55. Revenue for the quarter came in at $6.16 billion versus the consensus estimate of $6.12 billion.

Outlook

The impact of the COVID-19 pandemic on the Company’s full-year 2020 results remains uncertain. In each of the Company’s reporting segments, the Company’s second quarter 2020 outlook reflects, to varying degrees, incremental demand from retail customers due to an increase in at-home consumption, particularly in developed markets, as well as reduced demand in foodservice channels on a global basis. Currently, the Company believes low to mid-single-digit Organic Net Sales growth and mid-single-digit constant-currency Adjusted EBITDA growth versus the prior year period is a reasonable expectation for second quarter performance.

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