Company: KHC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001637459-25-000061
Chunk: 131

Company: Kraft Heinz Co
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 2
Chunk 131
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.S. as well as the impact of tariffs on certain products that are part of our integrated supply chain that spans the U.S. and Canada. During the three months ended March 29, 2025, these tariff actions have not had a significant impact on our results of operations; however, we have experienced increased foreign currency exchange rate volatility, which we attribute, in part, to the rapidly changing global trade environment. 

While the ultimate impact of tariffs remains uncertain and we anticipate taking measures to attempt to mitigate these negative cost impacts, these tariff and trade policy actions may have a material impact on our results of operations. Further, we expect that there could be a difference between the timing of when these mitigation actions impact our results of operations and when the cost inflation is incurred, and that any pricing actions we take could negatively impact our market share.

Results of Operations

We disclose in this report certain non-GAAP financial measures. These non-GAAP financial measures assist management in comparing our performance on a consistent basis for purposes of business decision-making by removing the impact of certain items that management believes do not directly reflect our underlying operations. For additional information and reconciliations to the most closely comparable financial measures presented in our condensed consolidated financial statements, which are calculated in accordance with U.S. GAAP see Non-GAAP Financial Measures.

29

Consolidated Results of Operations

Summary of Results:

For the Three Months EndedMarch 29, 2025March 30, 2024% Change(in millions, except per share data)Net sales$5,999 $6,411 (6.4)%Operating income/(loss)1,196 1,302 (8.1)%Net income/(loss)714 804 (11.2)%Net income/(loss) attributable to common shareholders712 801 (11.1)%Diluted EPS0.59 0.66 (10.6)%

 Net Sales:

For the Three Months EndedMarch 29, 2025March 30, 2024% Change(in millions)Net sales$5,999 $6,411 (6.4)%Organic Net Sales(a)6,083 6,383 (4.7)%

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

Three Months Ended March 29, 2025 Compared to the Three Months Ended March 30, 2024:

Net