Company: KHC
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001637459-25-000152
Chunk: 58

Company: Kraft Heinz Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 1
Chunk 58
---
 for the six month period was primarily due to the impact of non-deductible goodwill impairments, and a less favorable geographic mix of pre-tax income in various non-U.S. jurisdictions. 

•Other expense/(income) was $98 of income for the six months ended June 28, 2025 compared to $8 million of income for the six months ended June 29, 2024. This change was primarily driven by lapping the $79 million loss on the sale of business recognized in 2024, and an $18 million increase in interest income in 2025 compared to 2024 primarily due to interest earned our available-for-sale securities.

Adjusted Operating Income decreased 6.4% to $2.5 billion for the six months ended June 28, 2025 compared to $2.6 billion for the six months ended June 29, 2024, primarily driven by unfavorable volume/mix, increased commodity cost inflation, which more than offset our efficiency initiatives, and the unfavorable impact of foreign currency (0.3 pp). These unfavorable impacts more than offset higher pricing and decreased SG&A, primarily due to decreased advertising expenses and lower variable compensation expense.

Diluted EPS:

For the Three Months EndedFor the Six Months EndedJune 28, 2025June 29, 2024% ChangeJune 28, 2025June 29, 2024% ChangeDiluted EPS$(6.60)$0.08 (8,350.0)%$(5.98)$0.74 (908.1)%Adjusted EPS(a)0.69 0.78 (11.5)%1.31 1.47 (10.9)%

(a)    Adjusted EPS is a non-GAAP financial measure. See the Non-GAAP Financial Measures section at the end of this item. 

Three Months Ended June 28, 2025 Compared to the Three Months Ended June 29, 2024:

Diluted EPS decreased 8,350.0% to $(6.60) for the three months ended June 28, 2025 compared to $0.08 for the three months ended June 29, 2024, primarily due to the net income/(loss) factors discussed above, which more than offset the favorable impact of our common stock repurchases.

For the Three Months EndedJune 28, 2025June 29, 2024$ Change% ChangeDiluted EPS$(6