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Kraft Heinz Reports Q4 Sales Miss

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Kraft Heinz Reports Q4 Sales Miss

Kraft Heinz (NASDAQ: KHC) reported adjusted fourth-quarter earnings of 72 cents per share on Thursday, which beat the analyst consensus estimate of 68 cents by 5.88%. This is a 14.29% decrease over earnings of 84 cents per share from the same period last year.

The company reported quarterly sales of $6.536 billion, which missed the analyst consensus estimate of $6.61 billion by 1.12%. This is a 5.15% decrease over sales of $6.891 billion the same period last year.

"While our 2019 results were disappointing, we closed the year with performance consistent with our expectations, and driven by factors we anticipated," said Kraft Heinz CEO Miguel Patricio in a statement. "We have taken critical actions over the past six months to re-establish visibility and control over the business."

Kraft Heinz shares were trading down 1.13% at $29.70 in Thursday’s pre-market session. The stock has a 52-week range between $48.66 and $24.86.

Related Links:

Kraft Heinz Shares Lower Following Large Sale By 3G

New Kraft Heinz CEO Makes $20M Investment

Posted-In: Earnings News Best of Benzinga

 

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