27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
- Kraft Heinz Co (NASDAQ:KHC) reported a second-quarter FY21 net sales decline of 0.5% year-on-year, to $6.62 billion, beating the analyst consensus of $6.53 billion.
- Sales in the United States Fell 3.6% Y/Y, Canada increased 8.8%, and international sales grew 8.3%.
- Organic net sales for the quarter fell 2.1%.
- Gross profit declined 6.6% Y/Y to $2.29 billion.
- The operating margin was 18.7%, and operating income for the quarter rose 192.2% to $1.24 billion.
- The company held $3.94 billion in cash and equivalents as of June 26, 2021.
- Net cash provided by operating activities year-to-date amounted to $2.03 billion, an 8.4% decline Y/Y, while free cash flow fell 18.4% to $1.59 billion.
- Adjusted EBITDA of $1.71 billion decreased 5.2% Y/Y.
- Adjusted EPS of $0.78 beat the analyst consensus of $0.72.
- "And while industry challenges, like cost inflation, certainly remain, the investments we are making in our people, brands, and capabilities are enabling us to leverage our tremendous scale through greater agility and build our advantage in the markets we serve around the world," said CEO Miguel Patricio.
- Outlook: Kraft Heinz expects a mid-single-digit percentage increase in Organic Net Sales for Q3 FY21 and a low-single-digit percentage decline in Constant Currency Adjusted EBITDA versus Q3 of 2019.
- It continues to expect 2021 Adjusted EBITDA ahead of its strategic plan and now expects Adjusted EBITDA to be ahead of 2019.
- Price action: KHC shares are trading lower by 0.077% at $38.91 in premarket on the last check Wednesday.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!