$6476 Million Quarterly Revenue Decline Contributes to Kraft Heinz's Q2 Loss
The Kraft Heinz Company [KHC] reported a net loss of $100 million for the second quarter ending June 29, 2024. This marks a decrease from the previous quarter's performance, as the company navigates challenges in a shifting market environment.
The company, headquartered in Pittsburgh, Pennsylvania, reported to SEC in an 8-K filing $0.08 earnings per share in the quarter, compared to $0.81 in the previous quarter.
The Kraft Heinz Company, a prominent player in the consumer goods industry, recorded a revenue of $6.476 billion in the recent period. This figure reflects a decrease compared to the previous quarter's revenue.
In comparison to the same quarter in the previous year, The Kraft Heinz Company's revenue for the current quarter decreased. Additionally, the company experienced a percentage decrease in profit for the current quarter when compared to the same quarter of the previous year.
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As of August 7, 2024 end of day trading.
Dollars in millions | Jun 29, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 01, 2023 |
|---|
Income Statement |
| Revenue | $6,476.0 | $26,640.0 | $6,570.0 | $6,721.0 |
| Operating Profit | $522.0 | $4,572.0 | $653.0 | $1,376.0 |
| Net Income | $100.0 | $2,846.0 | $254.0 | $998.0 |
| Net Cash | -$502.0 | $363.0 | $13.0 | -$92.0 |
| Gross Margin | $2,294.0 | $8,926.0 | $2,235.0 | $2,261.0 |
| Operating Margin | $0.0 | $0.0 | $0.0 | $0.0 |
| Profit as % of Revenues | 2294.00 | 313.63 | 879.92 | 33.64 |
| Profit as % of Assets | 0.21 | 4.87 | 0.53 | 1.10 |
| Profit as % of Stockholder Equity | 0.20 | 5.73 | 0.51 | 2.00 |
| Return on Equity | 0.20 | 5.73 | 0.51 | 0.35 |
| Return on Assets | 0.11 | 3.15 | 0.28 | 0.19 |
| Turnover Ratio | 13.59 | 45.55 | 13.66 | 0.07 |
| EBITA | $522.0 | $4,572.0 | $653.0 | |
Balance Sheet |
| Total Assets | $88,797.0 | $90,339.0 | $89,656.0 | $90,956.0 |
| Total Liabilities | $39,766.0 | $40,617.0 | $40,198.0 | $40,942.0 |
Cash Flow Statement |
| Operating Cash Flow | $1,713.0 | $3,976.0 | $2,620.0 | $1,584.0 |
| Investing Cash Flow | -$632.0 | -$916.0 | -$738.0 | -$475.0 |
| Financing Cash Flow | -$1,565.0 | -$2,678.0 | -$1,816.0 | -$1,187.0 |
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