Company: KHC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001637459-25-000061
Chunk: 104

Company: Kraft Heinz Co
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 104
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 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 sales decreased 6.4% to $6.0 billion for the three months ended March 29, 2025 compared to $6.4 billion for the three months ended March 30, 2024, including the unfavorable impacts of foreign currency (1.6 pp) and acquisitions and divestitures (0.1 pp). Organic Net Sales decreased 4.7% to $6.1 billion for the three months ended March 29, 2025 compared to $6.4 billion for the three months ended March 30, 2024, primarily due to the unfavorable volume/mix (5.6 pp), which more than offset higher pricing (0.9 pp). Higher pricing in North America and Emerging Markets was partially offset by lower pricing in International Developed Markets. Volume/mix was unfavorable across all segments.

Net Income/(Loss):

For the Three Months EndedMarch 29, 2025March 30, 202