Kraft Heinz Q2 net sales up 3.8% to $6.65B

Thursday, 30. July 2020 13:10

The Kraft Heinz Company revealed on Thursday its net sales in the second quarter of 2020 came in at $6.65 billion, growing 3.8% in comparison to the same period last year. The company also confirmed its net loss stood at $1.34 billion, compared to the net income of $734 million achieved in the same period last year, while its diluted losses per share landed at $1.35 per share, as opposed to earnings per share of $0.37 in the second trimester in 2019.

"We are now starting to realize the benefits of agility and scale, while implementing changes across the company to further drive agility, both internally and how we go to market. We believe this will be the key to returning the company to sustainable long-term growth and profitability, and we look forward to providing greater details on these initiatives during our Investor Day in September," the company's Chief Executive Officer Miguel Patricio said.

The share of Kraft Heinz rose by 2.92% in the premarket trading after the report.

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