U.S. Kraft Heinz Co., one of the world’s largest food manufacturers, cut net profit in the first quarter of 2025 by 11 per cent and revenue by 6.4 per cent.
The company lowered its annual forecasts due to economic uncertainty, noting that it is assessing the potential impact of trade duties and inflation.
According to a Kraft Heinz press release, net income last quarter was $712 million, or $0.59 per share, compared to $801 million, or $0.66 per share, for the comparable period of the prior year.
Earnings excluding one-time factors decreased to $0.62 per share from $0.69 per share.
The company’s quarterly revenue declined to $6 billion from $6.4 billion a year ago. The decline in organic terms was 4.7%.
Experts polled by FactSet had on average forecast adjusted earnings of $0.6 per share on revenue of $6.02 billion.
According to Kraft Heinz’s new forecast, for the full year 2025, its adjusted earnings will be $2.51 to $2.67 per share, with organic sales declining 1.5 to 3.5%. It had previously forecast the former at $2.63-2.74 per share and expected organic revenue declines of up to 2.5%.
Kraft Heinz shares are losing 0.4 per cent in early trading on Tuesday. They are up 6.2% since the beginning of this year.