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Thursday, February 13, 2020

Kraft Heinz (KHC) reported earnings on Thur 13 Feb 20 (b/o)

  • Barron's Feb 7 reco below

** charts after earnings **


  • Barron's recommended KHC just a few days before earnings, Feb. 7:

Kraft Heinz beats by $0.04, misses on revs

  • Reports Q4 (Dec) earnings of $0.72 per share, excluding non-recurring items, $0.04 better than the S&P Capital IQ Consensus of $0.68; revenues fell 5.2% year/year to $6.54 bln vs the $6.61 bln S&P Capital IQ Consensus.
  • Pricing increased 2.0 percentage points versus the prior year period, with higher pricing in all business segments except Canada. Volume/mix decreased 4.2 percentage points, primarily driven by volume/mix declines in the US and, to a lesser extent, Rest of World markets that more than offset growth in Canada and EMEA.
  • United States net sales were $4.7 bln, down 2.7% versus the year-ago period.
  • Rest of World net sales of $708 mln decreased 10.1% versus the year-ago period, including a negative 5.2 percentage point impact from currency and a negative 3.3 percentage point impact from the India nutritional beverages divestiture. Organic Net Sales decreased 1.6% versus the year-ago period.
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