Kraft Heinz (KHC) misses revenue estimates after US market share headwinds
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August 2, 2023 7:55 AM EDTInvesting.com -- U.S. futures fell Wednesday after the surprise downgrade of the U.S. government's credit rating by Fitch hit sentiment, as the quarterly earnings season continued.
Here are some of the biggest premarket U.S. stock movers today:
Kraft Heinz sales miss estimates as higher prices hit demand
August 2, 2023 7:08 AM EDT(Reuters) -Kraft Heinz missed quarterly sales estimates on Wednesday as inflation-hit customers bought fewer packaged meals and condiments, discouraged by higher product prices.
Shares of the Jell-O maker were down 0.5% in premarket trade after it also maintained its annual sales and profit forecasts.
U.S. packaged food makers have kept their product prices higher for more than two years to shield their margins from a surge in costs of... More
Kraft Heinz (KHC) Tops Q2 EPS by 3c, Offers Guidance
August 2, 2023 7:02 AM EDTKraft Heinz (NASDAQ: KHC) reported Q2 EPS of $0.79, $0.03 better than the analyst estimate of $0.76. Revenue for the quarter came in at $6.72 billion versus the consensus estimate of $6.82 billion.
GUIDANCE:
Kraft Heinz sees FY2023 EPS of $2.83-$2.91, versus the consensus of... More
