Kraft Heinz Q2 Earnings: Revenue Declines, CEO Stresses Efficiency Amid Consumer Caution
Portfolio Pulse from Shivani Kumaresan
Kraft Heinz (NASDAQ:KHC) reported a 3.6% decline in Q2 FY24 revenue to $6.48 billion, missing analyst estimates. Despite a 1.5% increase in gross profit, operating income fell by 62.1%. The company maintained its FY24 adjusted EPS outlook and declared a $0.40 dividend. Shares are up 2.54% in premarket trading.
July 31, 2024 | 1:32 pm
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NEUTRAL IMPACT
Kraft Heinz reported a 3.6% decline in Q2 FY24 revenue, missing analyst estimates. Despite a rise in gross profit, operating income fell significantly. The company maintained its FY24 adjusted EPS outlook and declared a $0.40 dividend. Shares are up 2.54% in premarket trading.
The revenue decline and missed estimates are negative, but the rise in gross profit and maintained EPS outlook are positive. The dividend declaration and premarket share price increase suggest a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100