Kraft Heinz sales rise 6.2% to $6.9B in Q4

Thursday, 11. February 2021 13:04

Kraft Heinz sales rise 6.2% year on year to $6.9 billion in the fourth quarter, the company announced on Thursday. Over the same period, the company's net income surged 467.5% to $1.03 billion and diluted earnings per share jumped 460% to $0.84.

In fiscal 2020, Kraft Heinz's net sales increased by 4.8% compared to 2019 to $26.2 billion. However, the firm's net income and EPS both fell 81.6% in 2020 compared to the previous year and came in at $356 million and $0.29, respectively.

"Our people’s unwavering commitment during this pandemic has been remarkable, and through it, our organization has rediscovered its agility. This has accelerated our transformation and led to the strong performance we are reporting today. We set our multi-year transformation plan this time last year. We exceeded that plan in 2020. We are increasingly confident that we will again exceed that plan in 2021. We have started the new year with our new operating model fully in place," CEO Miguel Patricio said.

Kraft Heinz was up 1.68% at 7:08 am ET in premarket trading.

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