UPDATE 2-Kraft Heinz books more than $1 bln in charges, first-half profit slumps [Reuters (UK)]
The Kraft Heinz Company (KHC)
Last the kraft heinz company earnings: 4/30 07:05 am
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Source: Reuters
Kraft Heinz books more than $1 billion in charges, first-half profit slumps - Reuters 2 Min Read (Reuters) - Kraft Heinz Co’s ( KHC.O ) net income halved in the first six months the year as the packaged food maker disclosed well over $1 billion in charges and writedowns in results delayed by an investigation into its procurement practices. The company wrote down the value of some of its units, including its U.S. refrigerated business, by about $744 million. It also booked an impairment charge of $474 million in the second quarter to write down the value of six brands, including Velveeta and Cool Whip. Kraft Heinz’s earnings report was delayed as it restated financial reports for a near three-year period after an internal investigation into lapses in procurement practices by some of its employees. The company’s shares fell 6% in premarket trading on Thursday. The stock has lost a third of its value since Feb. 21, when the company posted a surprise quarterly loss, disclosed an SEC inv
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KHC
News
- The Kraft Heinz Company (NASDAQ: KHC) had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $42.00 to $43.00. They now have a "buy" rating on the stock.MarketBeat
- Kraft Heinz (KHC) on Track With Pricing Actions Amid Inflation [Yahoo! Finance]Yahoo! Finance
- Global Cheese Market Expected to Surge to US$ 143.5 Billion by 2032 Amidst Technological Advancements and Evolving Consumer Preferences [Yahoo! Finance]Yahoo! Finance
- Southern Glazer's Wine & Spirits Promotes Drew Vermilion to Senior Vice President, Supply Chain Strategy & Chief of Staff [Yahoo! Finance]Yahoo! Finance
- Kraft Heinz (KHC) Surpasses Market Returns: Some Facts Worth Knowing [Yahoo! Finance]Yahoo! Finance
KHC
Earnings
- 2/14/24 - Beat
KHC
Sec Filings
- 4/18/24 - Form 8-K
- 3/22/24 - Form PX14A6G
- 3/22/24 - Form ARS
- KHC's page on the SEC website