Kraft Heinz raises forecasts as new CEO's turnaround push drives sales beat
KHC•Higher investment plans and outlook
The packaged goods company said it would increase its incremental investments by $100 million to about $700 million in 2026, a cash injection Cahillane had hinted at during an interview with Reuters in June. Cahillane became Kraft Heinz's CEO in January.
The company now expects annual organic sales to fall between 0.5% and 2.0%, compared with its prior view of a 1.5% to 3.5% decline.
It also expects annual adjusted earnings per share of $2.03 to $2.09, compared with its prior forecast of $1.98 to $2.10.
Quarterly results and adjusted profit
Kraft Heinz's quarterly sales fell 1.4% to $6.26 billion from a year earlier, compared with analysts' expectations of a 3.6% decline to $6.12 billion, according to data compiled by LSEG.
On an adjusted basis, the company reported a profit of 56 cents per share, down 18.8% from a year ago but beating analysts' estimates of 53 cents per share.
