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Kraft Heinz (KHC) Q4 FY2021 earnings: revenue $6.7 billion, down 3.3% on the year

Kraft Heinz Co. (KHC) reported revenue of $6.7 billion for Q4 FY2021, the quarter ended 25 December 2021, down 3.3% on the same quarter a year earlier. Net income was -$257 million, and diluted earnings per share $-0.21. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2022.

Revenue
$6.7 billion
-3.3% on the year · +6.1% on the quarter
Q1 FY2020Q4 FY2021
Operating margin
-0.3%
22.3% a year earlier
Q1 FY2020Q4 FY2021
Net income
-$257 million
Q1 FY2020Q4 FY2021
Diluted EPS
-$0.21
Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Revenue6,7096,3246,939+6.1%-3.3%
Cost of revenue4,547n/an/a
Gross profit2,162n/an/a
Gross margin32.2%n/an/a
Selling, general and administrative2,182n/an/a
Operating income-20.01,1561,550
Operating margin-0.3%18.3%22.3%
Interest expense604n/an/a
Pre-tax income-520n/an/a
Income tax-265n/an/a
Net income-2577331,032
Net margin-3.8%n/an/a
Diluted EPS-$0.21$0.59$0.84
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Operating cash flow2,916n/an/a
Capital expenditure250n/an/a
Free cash flow2,666n/an/a
Free cash flow margin39.7%n/an/a
Cash from investing1,294n/an/a
Cash from financing-3,011n/an/a
Depreciation and amortisation233228247+2.2%-5.7%
Share-based compensation42.0n/an/a
Dividends paid490n/an/a
Diluted shares, weighted1,236m1,236mn/a0.0%
Shares outstanding at period end1,224m1,227m1,223m-0.2%+0.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Shareholders' equity49,29850,08950,103-1.6%-1.6%
Non-controlling interest150n/an/a
Redeemable equity4.0n/an/a
Debt21,81523,97228,306-9.0%-22.9%
Operating lease liabilities484n/an/a
Finance lease liabilities98.0n/an/a
Other liabilities21,545n/an/a
Total liabilities and equity93,394n/an/a
Goodwill31,296n/an/a
Intangible assets43,542n/an/a
Cash and equivalents3,4452,2733,417+51.6%+0.8%
Receivables1,957n/an/a
Inventory2,729n/an/a
Other assets10,425n/an/a
Total assets93,394n/an/a

Questions

What was Kraft Heinz's revenue in Q4 FY2021?

Kraft Heinz (KHC) reported revenue of $6.7 billion for Q4 FY2021, the quarter ended 25 December 2021, down 3.3% on the same quarter a year earlier.

How much did Kraft Heinz earn in Q4 FY2021?

Net loss for Q4 FY2021 was $257 million, and the diluted loss per share $0.21.

When did Kraft Heinz report Q4 FY2021 results?

Kraft Heinz filed its 10-K for the year that ended with the quarter on 17 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue6,7096,0456,5546,5057,3816,4896,7216,5706,8606,4116,4766,3836,5765,9996,3526,2376,3546,0476,2626,115
Cost of revenue4,5474,1144,5704,6625,0174,3764,4604,3354,5434,1684,1824,1974,3313,9354,1694,2474,2823,8284,2344,127
Gross profit2,1621,9311,9841,8432,3642,1132,2612,2352,3172,2432,2942,1862,2452,0642,1831,9902,0722,2192,0281,988
Gross margin32%32%30%28%32%33%34%34%34%35%35%34%34%34%34%32%33%37%32%33%
SG&A2,1828161,4421,0921,1388708851,5821,0179411,7722,2872,28586810,1579659881,0748,4591,113
Operating income-20.01,1155427511,2261,2431,3766531,3001,302522-101-40.01,196-7,9741,0251,0841,145-6,431875
Operating margin-0%18%8%12%17%19%20%10%19%20%8%-2%-1%20%-126%16%17%19%-103%14%
Interest expense604242234228217227228228229226229230227229240240238236-31.0210
Pre-tax income-5209713995451,0511,0511,1724609501,029348-283-2381,018-8,1678078971,010-6,376704
Tax raten/a20%34%20%16%20%15%45%20%22%71%n/an/a30%n/a24%28%21%n/a24%
Net income-2577762654328908361,000262757801102-2902,131712-7,824615651798-5,460544
Net margin-4%13%4%7%12%13%15%4%11%12%2%-5%32%12%-123%10%10%13%-87%9%
Diluted EPS-$0.21$0.63$0.21$0.35$0.72$0.68$0.81$0.21$0.61$0.66$0.08-$0.24$1.76$0.59-$6.60$0.52$0.55$0.67-$4.60$0.46
Operating cash flow2,9164863027299524861,0981,0361,3567719421,0831,3887201,2091,1571,3761,0061,082872
Capital expenditure250214221197284266242271234294249234247238187171205240189170
Free cash flow2,66627281.05326682208567651,1224776938491,1414821,0229861,171766893702
Buybacksn/an/an/an/an/a22.016.01123053292081.04502252100.01.023.04.052.0
Dividends paid490490490490490491491492491486483483479477474473474474475474
Shares outstanding1,224m1,225m1,225m1,227m1,225m1,227m1,228m1,227m1,218m1,214m1,209m1,209m1,195m1,190m1,184m1,184m1,184m1,186m1,186m1,184m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 25 December 2021, filed 17 February 2022: the filing.