Categories AlphaGraphs, Consumer, Earnings
KHC Earnings: Highlights of Kraft Heinz’s Q4 2023 financial results
The Kraft Heinz Company (NASDAQ: KHC), a leading producer of food and beverages, Wednesday announced fourth-quarter results, reporting a decline in sales and profit.
Net income attributable to common shareholders decreased to $757 million or $0.61 per share in the December quarter from $890 million or $0.72 per share in the prior-year quarter. On an adjusted basis, earnings fell to $0.78 per share in Q4 from $0.85 per share in the same period of 2022.
The weak earnings performance reflects a 7% decline in net sales to $6.86 billion. Sales dropped 9% in North America while they remained unchanged year-over-year in the international market.
“We laid out action plans early in 2023 to drive market share and volume improvement – and they worked. We also executed well against our efficiency program, unlocking and powering it in large part with our tech-enabled Agile@Scale methodology,” said Kraft Heinz’s CEO Carlos Abrams-Rivera.
Prior Performance
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
Can General Motors (GM) navigate the tariff challenge ahead?
General Motors' (NYSE: GM) stock tumbled last week after the Trump administration imposed new tariffs on automobile imports, raising concerns about their potential impact on the company’s production as it
What to look for when Delta Air Lines (DAL) reports its Q1 2025 earnings results
Shares of Delta Air Lines (NYSE: DAL) were down over 1% on Monday. The stock has dropped 28% over the past three months. The airline is scheduled to report its
STZ Earnings Preview: Can Constellation Brands leverage growing beer sales?
Constellation Brands, Inc. (NYSE: STZ) has effectively navigated challenges like cautious consumer spending and declining demand for its wine and spirits brands by capitalizing on the sustained growth in the
