Sector: Consumer Staples|Industry: Packaged Foods|Market Cap: $36.64B|Employees: 36K
The Kraft Heinz Company is a global food and beverage company committed to growing its iconic and emerging brands. They operate through six consumer-driven product platforms and leverage their scale and agility to compete in a highly competitive market. Their primary revenue streams come from the sale of condiments and sauces, cheese and dairy products, and other grocery items across North America and internationally.
Net sales decreased to $5.999 billion for the three months ended March 29, 2025, compared to $6.411 billion for the three months ended March 30, 2024. This includes unfavorable impacts from foreign currency and acquisitions/divestitures.
Organic Net Sales decreased 4.7%, primarily due to unfavorable volume/mix (5.6 pp), which more than offset higher pricing (0.9 pp). This indicates challenges in product demand and consumer preferences.
Net income decreased to $714 million for the three months ended March 29, 2025, compared to $804 million for the three months ended March 30, 2024. This was due to unfavorable changes in operating income/(loss) factors and higher income tax expense.