Kraft Heinz: Q2 EPS down 1%

(CercleFinance.com) - Kraft Heinz reports adjusted EPS down 1.
3% to $0.78 for Q2 2024, despite adjusted operating profit rising 2% to $1.38bn, largely thanks to savings on raw material and logistics costs. NB: pmt +1.4%.

At $6.48bn, the food group's revenues fell 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 is targeting adjusted EPS of $3.01 to $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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