Kraft Heinz revenue at $6.2B in Q1, beats expectations

Thursday, 30. April 2020 13:10

The Kraft Heinz Company said its revenue was at $6.2 billion in the first quarter of the year, rising 3.3% from the same quarter in 2019. Meanwhile, diluted earnings per share came in at $0.31 as the figure declined 6.1% from $0.33 per share a year ago. The food company also said its net income in the three-month period ended March 31 was down 4.7% year-on-year to $378 million.

Kraft Heinz CEO Miguel Patricio stated: "Our first quarter results reflect how strongly our employees have responded to the global COVID-19 challenge and the exceptional level of service our teams have demonstrated during this critical time; and for that, it is an incredible privilege to be part of the Kraft Heinz Company." He added: "Going forward, we have a singular focus: to meet the demand for our products and ensure consumers have the food and nourishment they need during these uncertain times."

In premarket trade, Kraft Heinz rose 1.74% after the earnings release was published.

Related Links: Kraft Heinz Company
Author:
Breaking the News / VP