In an April 30th release the Kraft Heinz Company (KHC) reported on the first quarter of Fiscal 2020 ending March 28th. 

According to industry surveys and press reports, purchases of packaged foods and traditional brands increased during March as a result of COVID-19 restrictions.  The effect has yet to be seen with the company posting a net income of $378 million on net sales of $6.16 billion yielding a diluted EPS of $0.31.  Comparative figures for the first quarter of 2019 included a net income of $404 million on sales of $5.96 billion with an EPS of $0.33.

During the first quarter of 2020, 73 percent of revenue was derived from sales in the U.S. with a 6.4 percent year-over-year growth rate. This was largely due to a six percent increase in consumer demand in March.  Pricing advanced by 2.4 percent due to higher list prices, in part caused by inflation in dairy items and promotional activity.  The company was impacted by a sharp decline in food service shipments.