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.”