(Il Sole 24 Ore Radiocor) - Milano, 6 mag - The US food company Kraft Heinz said that in the first quarter diluted earnings per share increased 13.6% year on year to 0.67 dollars, while adjusted EPS fell 6.5% to 0.58 dollars.

Adjusted earnings per share were primarily driven by lower adjusted operating income, which more than offset lower taxes on adjusted earnings.

Net sales increased 0.8% to 6.0 billion dollars, but organic net sales decreased 0.4%.

Adjusted operating income decreased 11.8% to 1.1 billion dollars, mainly due to increased advertising expenses, inflationary pressures in manufacturing and logistics costs that outpaced our efficiency initiatives, and unfavorable volume/mix, the company said.

Kraft Heinz reaffirmed its full-year outlook.

It expects organic net sales to fall 1.5-3.5% and constant currency adjusted operating income to drop 14-18% versus the prior year.

Kraft Heinz anticipates adjusted EPS of 1.98-2.10 dollars.

(RADIOCOR) 06-05-26 14:56:34 (0507) 5 NNNN