- Q4 net sales decreased 3.7%; Organic Net Sales(1) increased 1.6%
- Q4 operating income increased 22.8% and net income attributable to common shareholders increased to $944 million
- Q4 Adjusted EBITDA(1) increased 4.8% on a constant currency basis, despite an approximate 4.5 percentage point negative impact from a 53rd week of shipments in 2015
- Q4 diluted EPS increased to $0.77; Adjusted EPS(1) increased to $0.91, up from $0.62 the prior year, despite an approximate $0.03 negative impact from a 53rd week of shipments in 2015
PITTSBURGH & CHICAGO--(BUSINESS WIRE)--The Kraft Heinz Company (NASDAQ: KHC) (“Kraft Heinz” or the “Company”) today reported fourth quarter and full year 2016 financial results that reflected significant gains from cost savings, the redemption of preferred stock and lower taxes versus the prior year period.
“We finished 2016 consistent with our expectations and with good momentum heading into 2017,” said Kraft Heinz CEO Bernardo Hees. “Looking forward, our objectives and opportunities are clear. But we need to sharpen our focus on profitable sales, and further improve our capabilities and execution to deliver another year of strong, sustainable growth in 2017.”
The Company now expects its multi-year Integration Program to deliver $1.7 billion in cumulative, pre-tax savings by the end of 2017, up from $1.5 billion previously. The program is now forecast to result in $2.0 billion of pre-tax costs, up from $1.9 billion previously, and $1.3 billion of capital expenditures, up from $1.1 billion previously.
