April 30, 2020 / 1:40 PM / a month ago

BRIEF-Kraft Heinz Says There Are Too Many Unknowns To Confidently See Upside Beyond Q2

April 30 (Reuters) - Kraft Heinz Co:

* KRAFT HEINZ CEO SAYS TURNAROUND IS ON TRACK - CONF CALL

* KRAFT HEINZ CEO SAYS NEXT SEVERAL MONTHS WILL BE CRITICAL IN UNDERSTANDING PATH FORWARD AND THE PACE OF TURNAROUND IN THE NEAR TERM - CONF CALL

* KRAFT HEINZ CEO SAYS COVID-19 CRISIS IS ACCELERATING SUPPLY CHAIN EFFORTS - CONF CALL

* KRAFT HEINZ CEO SAYS EXPECT FOOD SERVICE SALES TO DECLINE BETWEEN 30% AND 70% IN EACH GEOGRAPHIC ZONE - CONF CALL

* KRAFT HEINZ CEO SAYS DOES NOT BELIEVE Q2 CONSUMPTION PATTERNS WILL BE RELIABLE INDICATOR OF NEW NORMAL; LIKELY TO GET CLARITY IN H2 OF YEAR

* KRAFT HEINZ CEO SAYS PLANS TO STEP UP INVESTMENTS IN BRANDS - CONF CALL

* KRAFT HEINZ EXEC CAUTIONS AGAINST EXPECTING SIMILAR GROWTH IN SECOND HALF OF YEAR - CONF CALL

* KRAFT HEINZ CFO EXPECTS Q2 FOOD SERVICE SALES TO DECLINE 30% TO 50% - CONF CALL

* KRAFT HEINZ CFO SAYS EBITDA MARGIN SHOULD BEGIN TO RETURN TO PRIOR YEAR LEVELS IN Q2 AS PRICING AND SUPPLY CHAIN PERFORMANCE IMPROVED - CONF CALL

* KRAFT HEINZ CFO SEES SIGNIFICANT DECLINE IN Q2 FOOD SERVICE SALES - CONF CALL

* KRAFT HEINZ CEO SAYS MOVED INVESTOR DAY TO SEPTEMBER - CONF CALL

* KRAFT HEINZ EXEC SEES H2 EBITDA HELD BACK BY ISSUES INCLUDING INCENTIVE COMPENSATION AND CURRENCY TRANSLATION - CONF CALL

* KRAFT HEINZ SEES MCCAFÉ EXIT, INCENTIVE COMPENSATION AND CURRENCY TRANSLATION REPRESENT A NEARLY 700 BASIS POINT HEADWIND TO H2 RESULTS- CONF CALL

* KRAFT HEINZ EXEC SAYS THERE ARE TOO MANY UNKNOWNS TO CONFIDENTLY SEE UPSIDE BEYOND Q2 - CONF CALL

* KRAFT HEINZ EXEC SAYS MAINTAINING CAPEX AT $750 MILLION FOR 2020 - CONF CALL

* KRAFT HEINZ EXEC SAYS CONSUMERS ARE COMING BACK TO BIG BRANDS; GROWING HOUSEHOLD PENETRATION IN ALMOST EVERY MARKET - CONF CALL

* KRAFT HEINZ EXEC SAYS REDUCING NUMBER OF PRODUCT LINES BEING PRODUCED FOR BETTER PRODUCTIVITY - CONF CALL

* KRAFT HEINZ EXEC SEES POSSIBILITY THAT RECENT KEY COMMODITY DEFLATION COULD TURN INTO GREATER COMMODITY VOLATILITY - CONF CALL Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below