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Kraft Heinz Co (KHC.OQ)

KHC.OQ on NASDAQ Stock Exchange Global Select Market

30.32USD
16 Jul 2019
Change (% chg)

$-0.36 (-1.17%)
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Latest Key Developments (Source: Significant Developments)

Tyson Foods Names Noelle O’Mara Chief Marketing Officer
Thursday, 30 May 2019 

May 30 (Reuters) - Tyson Foods Inc ::TYSON FOODS NAMES NOELLE O’MARA CHIEF MARKETING OFFICER.TYSON FOODS INC - BEFORE JOINING TYSON FOODS, O'MARA HELD SENIOR LEVEL MARKETING POSITIONS WITH KRAFT HEINZ.  Full Article

Kraft Heinz Receives Notification Of Deficiency From Nasdaq Related To Delayed Filing Of Form 10-Q
Tuesday, 21 May 2019 

May 21 (Reuters) - Kraft Heinz Co ::KRAFT HEINZ RECEIVES NOTIFICATION OF DEFICIENCY FROM NASDAQ RELATED TO DELAYED FILING OF QUARTERLY REPORT ON FORM 10-Q.KRAFT HEINZ CO - CURRENTLY EXPECTS TO COOPERATE WITH NASDAQ.KRAFT HEINZ CO - NASDAQ ALSO NOTIFIED KRAFT HEINZ THAT IT HAD BEEN GRANTED UNTIL SEPTEMBER 11, 2019 TO REGAIN COMPLIANCE.  Full Article

Kraft Heinz - To Restate Co's Consolidated Financial Statements And Related Disclosures For Years Ended December 30, 2017 And December 31, 2016
Monday, 6 May 2019 

May 6 (Reuters) - Kraft Heinz Co ::KRAFT HEINZ - TO RESTATE CO'S CONSOLIDATED FINANCIAL STATEMENTS AND RELATED DISCLOSURES FOR YEARS ENDED DECEMBER 30, 2017 AND DECEMBER 31, 2016.KRAFT HEINZ CO - DOES NOT BELIEVE THAT SUCH MISSTATEMENTS CONSTITUTE A QUANTITATIVELY MATERIAL MISSTATEMENT TO ANY INDIVIDUAL PERIOD.KRAFT HEINZ - STATEMENTS FOR YEARS ENDED DEC 30, 2017, AND 2016 SHOULD NO LONGER BE RELIED UPON DUE TO MISSTATEMENTS CONTAINED.KRAFT HEINZ CO - INVESTIGATION INTO PROCUREMENT AREA, IS NOW SUBSTANTIALLY COMPLETE.KRAFT HEINZ - AS RESULT OF FINDINGS FROM CO'S INVESTIGATION, WHICH IDENTIFIED THAT SEVERAL EMPLOYEES IN PROCUREMENT AREA ENGAGED IN MISCONDUCT.KRAFT HEINZ - RECORDED ADJUSTMENTS TO CORRECT PRIOR PERIOD MISSTATEMENTS THAT INCREASE TOTAL COST OF PRODUCTS SOLD IN PRIOR FINANCIAL PERIODS.KRAFT HEINZ - FINDINGS FROM INVESTIGATION DID NOT IDENTIFY ANY MISCONDUCT BY ANY MEMBER OF SENIOR MANAGEMENT TEAM.KRAFT HEINZ CO - COMPANY ALSO CONTINUES TO COOPERATE FULLY WITH SEC.KRAFT HEINZ - ALSO CONDUCTED A COMPREHENSIVE REVIEW OF SIGNIFICANT SUPPLIER CONTRACTS TO IDENTIFY OTHER POTENTIAL MISSTATEMENTS.KRAFT HEINZ CO - MISSTATEMENTS PRINCIPALLY RELATE TO INCORRECT TIMING OF WHEN CERTAIN COST AND REBATE ELEMENTS WERE INITIALLY RECOGNIZED.KRAFT HEINZ - REVIEW OF SUPPLIER CONTRACTS IDENTIFIED MORE MISSTATEMENTS RELATED TO CERTAIN SUPPLIER CONTRACTS AND ARRANGEMENTS.KRAFT HEINZ CO - INVESTIGATION AND REVIEW REQUIRED ADJUSTMENTS OF APPROXIMATELY $208 MILLION.  Full Article

Kraft Heinz Says CEO Bernardo Hees Will Leave Effective June 30, 2019
Monday, 22 Apr 2019 

April 22 (Reuters) - Kraft Heinz Co ::KRAFT HEINZ - BERNARDO HEES, CO'S CEO, WILL LEAVE EFFECTIVE JUNE 30, 2019 TO FOCUS ON OTHER PROJECTS AS A PARTNER OF 3G CAPITAL.KRAFT HEINZ - NOT YET ENTERED INTO ANY COMPENSATION ARRANGEMENTS WITH HEES OR MIGUEL PATRICIO IN CONNECTION WITH CEO CHANGE.  Full Article

Kraft Heinz Appoints Miguel Patricio CEO Effective July 1, 2019
Monday, 22 Apr 2019 

April 22 (Reuters) - Kraft Heinz Co ::KRAFT HEINZ BOARD OF DIRECTORS APPOINTS MIGUEL PATRICIO CHIEF EXECUTIVE OFFICER EFFECTIVE JULY 1, 2019.KRAFT HEINZ CO - PATRICIO WILL SUCCEED BERNARDO HEES.KRAFT HEINZ CO - HEES WILL REMAIN CEO THROUGH JUNE 30.KRAFT HEINZ - PATRICIO WILL JOIN CO AFTER A CAREER AT ANHEUSER-BUSCH INBEV.  Full Article

Kraft Heinz Co Reorganized To Have Certain Operational Functions Report Through Various Individuals
Thursday, 18 Apr 2019 

April 18 (Reuters) - Kraft Heinz Co ::KRAFT HEINZ CO - EFFECTIVE APRIL 15, REORGANIZED TO HAVE CERTAIN OPERATIONAL FUNCTIONS REPORT THROUGH VARIOUS INDIVIDUALS, INCLUDING ZONE PRESIDENTS.  Full Article

Kraft Heinz Enters Waiver And Consent With Respect To Credit Agreement Dated July 6 2015
Friday, 22 Mar 2019 

March 22 (Reuters) - Kraft Heinz Co ::KRAFT HEINZ - ENTERED WAIVER AND CONSENT NO. 1 WITH RESPECT TO THAT CERTAIN CREDIT AGREEMENT, DATED AS OF JULY 6, 2015.KRAFT HEINZ - CREDIT AGREEMENT PROVIDES FOR A SENIOR UNSECURED REVOLVING CREDIT FACILITY, WHICH MATURES ON JULY 6, 2023..KRAFT HEINZ - AS OF BOTH DECEMBER 29, 2018 AND MARCH 22, 2019, THERE WERE NO OUTSTANDING BORROWINGS UNDER THE REVOLVING CREDIT FACILITY.KRAFT HEINZ - PURSUANT TO WAIVER, LENDERS GRANTED ONE-TIME TEMPORARY WAIVER OF COMPLIANCE.  Full Article

Kraft Heinz Taps Investment Bank Credit Suisse To Review Options For Its Maxwell House Coffee Business - CNBC
Sunday, 24 Feb 2019 

Feb 24 (Reuters) - :KRAFT HEINZ TAPS INVESTMENT BANK CREDIT SUISSE TO REVIEW OPTIONS FOR ITS MAXWELL HOUSE COFFEE BUSINESS, WHICH COULD INCLUDE A POTENTIAL SALE - CNBC.  Full Article

Kraft Agrees To Sell Portfolio Of Indian Businesses To Zydus - Bloomberg
Tuesday, 23 Oct 2018 

Oct 23 (Reuters) - :KRAFT AGREES TO SELL PORTFOLIO OF INDIAN BUSINESSES TO ZYDUS - BLOOMBERG, CITING SOURCES.  Full Article

Kraft Heinz Says Sees Constant Currency Adjusted EBITDA Trend To Improve By Year-End And Gain Further Momentum Into 2019- Conf call
Friday, 3 Aug 2018 

Aug 3 (Reuters) - Kraft Heinz Co ::KRAFT HEINZ CEO - "WE SAW CONSUMPTION TRENDS IMPROVE AS Q2 UNFOLDED" - CONF CALL.KRAFT HEINZ CEO - TARGETING TOP LINE GROWTH IN THE Q3; FOCUS IS ON PREVENTABLE VOLUMES AND MIXED IMPROVEMENTS COMING FROM NEW PRODUCTS.KRAFT HEINZ CEO - IMPACT OF TARIFFS ON CANADA SALES STILL LARGELY UNKNOWN; CONTINUE TO FEEL GOOD ABOUT GETTING CANADA BACK TO GROWTH TRACK BY YEAR-END.KRAFT HEINZ CEO - "WE NOW HAVE MORE CAPACITY TO DRIVE CATEGORY AND BRAND GROWTH AS OUR PRODUCT PIPELINE WILL BE FULLY IN PLACE IN Q3".KRAFT HEINZ CFO - ORGANIC NET SALES GROWTH IS EXPECTED TO BEGIN NOW IN Q3 WITH THE U.S. GROWING AND EMEA AND REST OF WORLD SUSTAINING MOMENTUM.KRAFT HEINZ CFO - Q3 ADJUSTED EBITDA DOLLARS ARE LIKELY TO BE DOWN COMPARED TO 1H DUE TO GREATER-THAN-EXPECTED INFLATION, MORE INVESTMENT POSTURE.KRAFT HEINZ - SEES CONSTANT CURRENCY ADJUSTED EBITDA TREND TO IMPROVE BY YEAR-END AND GAIN FURTHER MOMENTUM INTO 2019.KRAFT HEINZ - CFO SAYS TARIFF RISK CURRENTLY IMPACTING FOIL AND ALUMINUM COSTS IN THE U.S. AND CERTAIN PRODUCTS WE SELL IN CANADA.KRAFT HEINZ CFO - "WE CONTINUE TO EXPECT PRICING RELATIVE TO OUR KEY COMMODITIES TO BE STABLE".KRAFT HEINZ CFO - "WE HAVE RECENTLY SEEN SOME KEY COMMODITIES COME DOWN MORE RECENTLY AND EXPECT THAT FOR THE YEAR".  Full Article

Conagra misses estimates as rivals step up promotions, cut prices

Conagra Brands Inc's on Thursday missed Wall Street estimates for quarterly earnings and sales as low prices and aggressive store promotions by rival food makers ate into demand for Marie Callender's, Hunt's and Chef Boyardee products.