Kraft Heinz Posts Wider Q3 Loss - Quick Facts

(RTTNews) - The Kraft Heinz Company (KHC) reported that its third quarter adjusted Pro Forma EPS declined 4.3 percent to $0.44, primarily reflecting the change in adjusted Pro Forma EBITDA as well as the impact of a higher tax rate compared to prior year. Adjusted Pro Forma EBITDA declined 3.4 percent to $1.5 billion due to a negative 8.2 percentage point impact from currency. Adjusted Pro Forma EBITDA grew 4.8% on a constant currency basis.

On a GAAP basis, the company reported a loss per share of $0.27 compared to a loss of $0.02 per share, previous year. During the quarter, the company completed the merger of Kraft and Heinz.

Pro forma net sales were $6.4 billion, down 9.0 percent from the year-ago period, primarily driven by a negative 6.7 percentage point impact from currency and a negative 0.3 percentage point impact from divestitures. Pro Forma Organic Net Sales decreased 2.0 percent versus the year-ago period.

Separately, Kraft Heinz announced that its Board approved an increase of the company's quarterly dividend to $0.575 per share of common stock, an increase of approximately 4.5 percent versus the prior rate of $0.55 per share.