Kraft Heinz: EPS down 1% in Q2

(CercleFinance.com) - Kraft Heinz reports adjusted EPS down 1.
3% to $0.78 for the second quarter of 2024, despite adjusted operating profit up 2% to $1.38 billion, thanks in particular to savings on raw material and logistics costs.

At $6.48 billion, the food group's revenues fell by 3.6% on a reported basis, including a 2.4% organic decline, with a -3.4% volume and mix effect that could not be offset by price increases.

Kraft Heinz confirms that it is targeting adjusted EPS of between $3.01 and $3.07 in 2024, but has lowered its growth forecasts for adjusted operating profit, to between +1 and +3%, and for revenues, to between -2 and 0% in organic terms.

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