Kraft Heinz Sales Dollars Rise But Profit Drops

Oct. 27, 2022

Higher product prices offset drop in sales volume.

In what is becoming a familiar pattern, Kraft Heinz saw sales dollars rise even as volume declined in the most recent quarter.

Kraft Heinz posted net sales of $6.5 million for the quarter, a year-over-year increase of 1.5%. Organic net sales, which exclude the impact of currency fluctuations and one-time transactions, rose 11.6% year-over-year, even as volume dropped, thanks to product prices increasing by 15 percentage points.

The company showed net income of $435 million, a 41% decrease from the same quarter last year. Adjusted earnings, which strip out the impact of impairment losses and other one-time events, stood at $1.4 billion, a 5.5% decrease from last year.

"We delivered another quarter of strong results as we continue to successfully navigate a volatile environment," CEO Miguel Patricio said in a statement. "We are driving net sales growth across both North America and International segments.”

About the Author

Pan Demetrakakes | Senior Editor

Pan has written about the food and beverage industry for more than 25 years. His areas of coverage have included formulations, processing, packaging, marketing and retailing. Pan worked for Food Processing Magazine for six years in the 1990s, where he was operations editor (his current role), touring dozens of food plants of every description. He has also worked for Packaging and Food & Beverage Packaging magazines, the latter as chief editor, during which he won three ASBPE awards. He is a graduate of Stanford University with a BA in communications.