Kraft Heinz reported second quarter revenue of $6.26 billion and adjusted EPS of $0.56, beating analyst estimates. Organic net sales declined by a less-than-expected 1.3% as pricing gains were not enough to offset a drop in volume and mix. The company raised its full-year 2026 outlook for organic net sales.
Key Highlights
- Organic net sales fell 1.3% in the second quarter, significantly better than the -4.0% decline analysts had anticipated. The result was driven by a 2.6% decline in volume/mix, which was partially offset by a 1.3% increase in price.
- Adjusted EPS decreased 18.8% year-over-year to $0.56, attributed to lower volume, cost inflation, and increased advertising expenses.
- Kraft Heinz raised its full-year 2026 guidance for organic net sales, now expecting a decline of 0.5% to 2.0%, an improvement from the prior forecast of a 1.5% to 3.5% decline.