Kraft Heinz reports first-quarter 2021 results; sales rise 4%

KEY POINTS:

• Net sales increased 3.9% and organic net sales increased 2.5%.
• Gross profit increased 18.5%.
• Q1 operating income increased 41.3%, net income increased 49.0%, and diluted EPS increased 48.4%.
• Adjusted EBITDA increased 11.6% and adjusted EPS increased 24.1%.

Kraft Heinz Co. (Nasdaq: KHC) this week reported financial results for the first quarter of 2021. Net sales increased 3.9% versus the year-ago period to $6.4 billion, including a favorable 1.4 percentage point impact from currency, and increased 7.3% versus the comparable 2019 period, including a favorable 0.5 percentage point impact from currency. 

Growth was partially offset by ongoing foodservice declines, the negative impact from exiting the McCafé licensing agreement and lower retail takeaway versus the prior year period that benefited from strong, COVID-19-related consumer demand.

Kraft Heinz continues to expect it will deliver 2021 financial performance ahead of its strategic plan.

See the full financial report at Business Wire.