Kraft Heinz is in a better place than it was, but there's still a lot of work to be done before it's back on track.
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While the top- and bottom-line numbers for Kraft Heinz (KHC) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Kraft Heinz Co (NASDAQ:KHC, ETR:KHNZ) may be facing a long-term recovery after underwhelming against revenue expectations over the third quarter, but analysts at Barclays are urging patience. Net sales fell by 2.8% to $6.38 billion over the three months to September, the ketchup maker reported on Wednesday, undershooting estimates for $6.43 billion.
The company's third-quarter performance didn't inspire market players to buy its shares.
The food company – which owns brands like Kraft Mac & Cheese, Heinz Tomato Ketchup, Lunchables, Capri Sun, Kool Aid and Jell-O – raised its prices by 1.2 percentage points during the quarter ended Sep. 28.
KHC's Q3 results reflect the impacts of volatile consumer behavior stemming from economic uncertainty, while pricing offers respite.
The Kraft Heinz Company (NASDAQ:KHC ) Q3 2024 Earnings Conference Call October 30, 2024 9:00 AM ET Company Participants Anne-Marie Megela - Global Head, Investor Relations Carlos Abrams-Rivera - Chief Executive Officer Andre Maciel - Executive Vice President and Global CFO Conference Call Participants Andrew Lazar - Barclays Ken Goldman - JPMorgan Peter Galbo - Bank of America Tom Palmer - Citi David Palmer - Evercore ISI Robert Moskow - TD Cowen Chris Carey - Wells Fargo Securities Operator Good day, and thank you for standing by. Welcome to The Kraft Heinz Company Third Quarter Results Conference Call.
While the top- and bottom-line numbers for Kraft Heinz (KHC) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Kraft Heinz misses sales expectations again, as volumes keep falling, and the stock heads for a three-month low.
Kraft Heinz (KHC) came out with quarterly earnings of $0.75 per share, beating the Zacks Consensus Estimate of $0.74 per share. This compares to earnings of $0.72 per share a year ago.