Kraft Heinz: Q2 net sales dropped 0.9% to $6.55B

Wednesday, 27. July 2022 13:04

Kraft Heinz reported on Wednesday that the company's net sales dropped 0.9% year-on-year in the second quarter of 2022, reaching $6.55 billion. However, net income rose by 1.136.4% compared to the last year, with the parameter standing at $265 million.

At the same time, diluted earnings per share were $0.21, marking an increase of 1,150.0% versus the same period last year, while the adjusted EPS stood at $0.70 compared to the $0.78 from the second quarter of 2021.

''We delivered yet another quarter of strong results as we continue to successfully navigate near-term headwinds, enabled by further advancements of our long-term strategy,'' the company's CEO Miguel Patricio said, while the press release added that Kraft Heinz continues to expect ''strong financial performance in 2022.''

The company's shares fell by 2.95% in premarket trading following the release of the latest data.

Related Links: Kraft Heinz Company
Author:
Baha Breaking News (BBN) / MM