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10/27/2021, 1:03 PM (Source: TeleTrader)
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Kraft Heinz's Q3 net sales down 1.8% YoY to $6.3B

The Kraft Heinz Company unveiled on Wednesday that its net sales for the third quarter of the fiscal year landed at $6.3 billion, decreasing 1.8% when compared to the same period last year.

For the same period, the company's operating income saw a slight yearly uptick of 0.8% to $2 billion, while its net income jumped 23.2% to $736 million. Meanwhile, its diluted earnings per share climbed 20.4% year-on-year to reach $0.59.

Kraft Heinz CEO Miguel Patricio commented on the results: "We are effectively adapting to near-term challenges while transforming our business and rejuvenating our iconic brands to better serve consumers for the long term. We still have much to do, but our momentum is strong and our strategy to bring agility to our scale is working, which is why we are increasing full-year expectations."

Kraft Heinz shares were down 0.22% in premarket trading following the release of the report.

Baha Breaking the News (BBN) / OL