Kraft Heinz (NASDAQ: KHC) reported Q3 EPS of $0.75, $0.01 better than the analyst estimate of $0.74. Revenue for the quarter came in at $6.4 billion versus the consensus estimate of $6.43 billion.

Outlook

For fiscal year 2024, the Company now expects:

Organic Net Sales(2) to be at the low end of the previous guidance range of down 2 percent to flat versus the prior year.

Adjusted Operating Income(2) growth to be at the low end of the previous guidance range of 1 to 3 percent versus the prior year. This also contemplates expected Adjusted Gross Profit Margin(1)(2) expansion at the lower end of the previous range of 75 to 125 basis points versus the prior year.

Adjusted EPS(2) 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. The Company expects an effective tax rate on Adjusted EPS to be approximately 21 percent. Additionally, the Company expects interest expense and other expense/(income) to be relatively flat versus the prior year. This guidance does not reflect any impact from future potential share repurchases.

(Consensus sees FY EPS of $3.02)

For earnings history and earnings-related data on Kraft Heinz (KHC) click here.