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Kraft Heinz to restate earnings for 2016-17

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Kraft Heinz plans to restate its financial statements for 2016 and 2017.

The $181 million change came after a review into employee misconducted related to procurement and accounting procedures.

“During the course of a thorough internal investigation, some discrepancies were uncovered which affected the way earnings were calculated between periods,” a Kraft Heinz spokesperson said in a statement to CNBC. “While we don’t believe that the misstatements are quantitatively material to any prior period, due to the qualitative nature of the matters identified, the company determined that it is appropriate to correct the errors in previously issued financial statements.”

Read more from CNBC.


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