Kraft Heinz's Q2 sales decreased by 1.9% year-on-year, reaffirming adjusted earnings per share forecast for the full year.

Kraft Heinz announced its second quarter performance, with sales falling 1.9% year-on-year to $6.35 billion, but still higher than analysts' expectations of $6.27 billion; including a $9.3 billion non-cash impairment charge, the company recorded a net loss of $7.82 billion for the period, compared to a profit of $1 billion in the same period last year; adjusted earnings per share were 69 cents, higher than analysts' expectations of 64 cents. The company reiterated its forecast of adjusted earnings per share of $2.51 to $2.67 for the full year, and expects organic sales to decline by 1.5% to 3.5%. CEO Carlos Abrams-Rivera said, "We are excited about the future outlook and the momentum we are building across the entire business."