- Q1 net sales decreased 3.1%; Organic Net Sales(1) decreased 2.7% including Easter shift and other factors in North America affecting comparisons with prior year
- Q1 net income attributable to common shareholders decreased 0.3%; Adjusted EBITDA(1) decreased 2.4% on a constant currency basis
- Q1 diluted EPS of $0.73 was flat to the prior year; Adjusted EPS(1) increased to $0.84 from $0.73 the prior year
PITTSBURGH & CHICAGO--(BUSINESS WIRE)-- The Kraft Heinz Company (NASDAQ: KHC) ("Kraft Heinz" or the "Company") today reported first quarter 2017 financial results that primarily reflected lower consumption versus the prior-year period in North America, offset by significant gains from cost savings initiatives and benefits from the redemption of preferred stock in the prior year.
"Although our top line results in the first quarter reflect a slow start to the year, we remain on track with our key initiatives," said Kraft Heinz CEO Bernardo Hees. "We are delivering product innovations, renovations and geographic expansion that positions Kraft Heinz to drive organic sales growth for the balance of 2017 and beyond. We also have good visibility on costs, savings and what we must do to deliver another year of profitable growth for The Kraft Heinz Company."
