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
KBH Earnings: KB Home Q1 profit drops on lower sales, misses estimates
Homebuilder KB Home (NYSE: KBH) on Monday announced financial results for the first quarter of 2025, reporting lower revenues and profit. The bottom line fell short of expectations. First-quarter net
Can Nike (NKE) achieve sustainable growth under new leadership?
Nike, Inc. (NYSE: NKE) is banking on innovations in its product portfolio and improvements in the operating environment to regain strength, while it continues to grapple with multiple headwinds affecting
Here’s how Lennar (LEN) is navigating a challenging macroeconomic environment
Shares of Lennar Corporation (NYSE: LEN) gained over 1% on Monday. The stock has dropped 11% over the past three months. The homebuilder grew its revenues in the first quarter
