NASDAQ$KHC
Kraft Heinz Co · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Kraft Heinz's financial performance was reported for Q3 2024, with a decrease in net sales and operating income, but an increase in adjusted EPS.
Kraft Heinz reported a decrease in net sales by 2.8% and a significant decrease in operating income due to non-cash impairment losses. However, adjusted EPS increased by 4.2%. The company is narrowing its full-year outlook for organic net sales, adjusted operating income, and adjusted EPS.
- Net sales decreased by 2.8%, with organic net sales down by 2.2%.
- Operating income decreased significantly due to non-cash impairment losses of $1.4 billion.
- Adjusted EPS increased by 4.2% to $0.75.
- The company is narrowing full year outlook for organic net sales, Adjusted Operating Income and Adjusted EPS.
Headline financials
Revenue & EPS history
Kraft Heinz · Revenue · Quarterly
$6.38B
Revenue by segment
Kraft Heinz · $5B total across 1 segment · Q3 2023
- North America$5B-0.4%100.0%
Forward guidance
For fiscal year 2024, the Company now expects Organic Net Sales to be at the low end of the previous guidance range of down 2 percent to flat versus the prior year, Adjusted Operating Income growth to be at the low end of the previous guidance range of 1 to 3 percent versus the prior year and Adjusted EPS growth to be at the low end of the previous guidance range of 1 to 3 percent, or in the range of $3.01 to $3.07.
Tailwinds
- Efficiency initiatives are expected to benefit the Adjusted Operating Income.
- The company expects an effective tax rate on Adjusted EPS to be approximately 21 percent.
- The company expects interest expense and other expense/(income) to be relatively flat versus the prior year.
- Continued momentum in Global Away From Home and Emerging Markets.
- Proven ability to sustainably unlock efficiencies and generate strong cash flow.
Headwinds
- Organic Net Sales to be at the low end of the previous guidance range of down 2 percent to flat versus the prior year.
- Adjusted Operating Income growth to be at the low end of the previous guidance range of 1 to 3 percent versus the prior year.
- Adjusted EPS growth to be at the low end of the previous guidance range of 1 to 3 percent, or in the range of $3.01 to $3.07.
- U.S. Retail business is expected to have a more elongated recovery, driven by specific categories that continue to experience pressure.
- Guidance does not reflect any impact from future potential share repurchases.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-1.1%
Avg return
Earnings day
-1.1%
Avg return
5 days after
-2.7%
Avg return
30 days after
40%
21 / 53 earnings
Positive
+14.4%
Q3 2019
Best reaction
-27.6%
Q4 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.1% | +3.3% | +0.3% | |
| Q4 2025 | +0.4% | -0.4% | -9.3% | |
| Q3 2025 | -4.1% | -4.7% | -0.0% | |
| Q1 2025 | +0.2% | -0.6% | -6.2% | |
| Q4 2024 | -3.2% | -2.2% | +2.2% | |
| Q3 2024 | -3.9% | -4.1% | -8.1% | |
| Q2 2024 | +4.6% | +4.0% | +4.7% | |
| Q1 2024 | -4.9% | -7.4% | -8.4% | |
| Q4 2023 | -3.2% | -3.7% | -4.9% | |
| Q3 2023 | +6.5% | +5.8% | +12.9% | |
| Q2 2023 | -0.9% | -2.5% | -9.2% | |
| Q1 2023 | +3.5% | +4.1% | -2.4% | |
| Q4 2022 | -0.3% | +0.3% | -5.6% | |
| Q3 2022 | +2.6% | +3.8% | +5.0% | |
| Q2 2022 | -3.8% | -3.1% | -1.4% | |
| Q1 2022 | +3.1% | -0.8% | -10.6% | |
| Q4 2021 | +9.0% | +10.9% | +8.5% | |
| Q3 2021 | +0.1% | +0.8% | -4.4% | |
| Q2 2021 | -5.1% | -4.2% | -8.0% | |
| Q1 2021 | +2.9% | +5.6% | +8.6% | |
| Q4 2020 | +4.4% | +4.3% | +12.5% | |
| Q3 2020 | +4.7% | +8.8% | +12.4% | |
| Q2 2020 | -3.3% | -1.4% | -1.9% | |
| Q1 2020 | -3.8% | -5.2% | -0.2% | |
| Q4 2019 | -10.5% | -9.0% | -20.2% | |
| Q3 2019 | +14.4% | +15.5% | +7.0% | |
| Q2 2019 | -14.2% | -15.9% | -11.6% | |
| Q1 2019 | -14.2% | -15.9% | -11.6% | |
| Q4 2018 | -27.6% | -31.4% | -33.1% | |
| Q3 2018 | -7.7% | -2.7% | -7.0% | |
| Q2 2018 | +4.9% | +1.5% | -1.9% | |
| Q1 2018 | -1.3% | +5.6% | +3.5% | |
| Q4 2017 | -5.5% | -7.2% | -10.1% | |
| Q2 2013 | -5.5% | -7.2% | -10.1% | |
| Q3 2017 | +0.9% | -0.4% | +5.0% | |
| Q2 2017 | -0.2% | -0.8% | -6.9% | |
| Q1 2017 | +0.8% | +0.5% | +5.1% | |
| Q4 2016 | -3.9% | +6.4% | +1.3% | |
| Q3 2016 | -4.7% | +0.2% | -8.2% | |
| Q2 2016 | +4.6% | +5.7% | +5.5% | |
| Q1 2015 | +5.0% | — | — | |
| Q1 2016 | +5.5% | — | — | |
| Q4 2015 | +6.6% | — | — | |
| Q3 2014 | -5.5% | — | — | |
| Q3 2015 | -5.0% | — | — | |
| Q1 2013 | -0.6% | — | — | |
| Q2 2014 | -0.6% | — | — | |
| Q1 2014 | -0.6% | — | — | |
| Q4 2012 | -0.6% | — | — | |
| Q4 2014 | -0.6% | — | — | |
| Q4 2013 | -0.6% | — | — | |
| Q3 2013 | -0.6% | — | — | |
| Q2 2015 | -0.6% | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — | |
| Q4 2011 | — | — | — | |
| Q3 2011 | — | — | — | |
| Q2 2011 | — | — | — | |
| Q1 2011 | — | — | — |
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