Oct 30, 11:13 AM

Kraft Heinz Q3 Earnings: $6.4B Revenue, $0.75 EPS, Diluted EPS $(0.24), Dividend $0.40, Stock Drops 2.5%

Kraft Heinz Company ($KHC) reported its third-quarter earnings for 2024, revealing a decrease in net sales by 2.8% year-over-year to $6.4 billion, slightly below the expected $6.42 billion. The company posted an adjusted earnings per share (EPS) of $0.75, surpassing estimates of $0.74, marking a 4.2% increase from the previous year. However, diluted EPS fell sharply to $(0.24), a decline of 214.3%. The gross profit margin improved by 20 basis points to 34.2%. Kraft Heinz also announced a dividend of $0.40 per share, set to be paid on December 27, 2024, to shareholders of record by November 29, 2024. CEO comments indicated a prolonged recovery for the U.S. retail business, with specific categories still under pressure, suggesting that recovery may take longer than anticipated. Following the earnings report, Kraft Heinz's stock experienced a decline of approximately 2.5% in after-hours trading.

#Kraft Heinz Company #Kraft Heinz

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Kraft Heinz Q3 Earnings: $6.4B Revenue, $0.75 EPS, Diluted EPS $(0.24), Dividend $0.40, Stock Drops 2.5%

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