The Kraft Heinz Company (NASDAQ: KHC), a leading producer of food and beverages, Wednesday announced first-quarter results, reporting a decline in sales and a modest increase in adjusted profit.
Net income attributable to common shareholders decreased to $801 million or $0.66 per share in the March quarter from $836 million or $0.68 per share in the prior-year quarter. On an adjusted basis, earnings rose to $0.69 per share in Q1 from $0.68 per share in the same period of 2023.
First-quarter sales edged down by 1% in $6.41 billion, with all three geographical segments — North America, International Developed Markets, and Emerging Markets — registering lower sales.
“Our first quarter results were in line with our expectations, with growth across each of our three strategic pillars – Global Away From Home, Emerging Markets, and North America Retail ACCELERATE Platforms – and continued sequential volume recovery,” said Kraft Heinz’s CEO Carlos Abrams-Rivera.
