Financial Data and Key Metrics Changes - The company reported a decline in overall volume in North America, particularly in categories like Mac & Cheese and juices, with private label brands gaining market share [7][8] - The impact of unplanned maintenance at an Away From Home plant is expected to affect topline growth by 50 to 100 basis points in Q2, but production is anticipated to return to normal levels by Q3 [12][14][76] Business Line Data and Key Metrics Changes - The Foodservice segment is projected to achieve mid-single-digit organic growth, with expectations that current trends will remain stable or improve [17][31] - The Oscar Mayer and beverage businesses experienced mid-single-digit declines in measured channels, with ongoing challenges being addressed through strategic investments [17][33] Market Data and Key Metrics Changes - The company noted a few hundred basis points negative impact on U.S. Retail sales due to the SNAP issue, which has affected lower-income consumers [22][50] - Emerging Markets are expected to return to long-term growth rates, with Q1 performance aligning with expectations [31][76] Company Strategy and Development Direction - The company is focused on innovation, aiming to generate $2 billion in incremental net sales from new products, and has been recognized as one of the world's Top 50 Most Innovative Companies [42] - The strategy includes expanding distribution in higher-margin channels such as leisure and hospitality, while also driving innovation in the Away From Home segment [25][71] Management's Comments on Operating Environment and Future Outlook - Management highlighted consumer stress due to high interest rates and gas prices, leading to a pullback in restaurant spending among lower-income households [50][51] - The company remains optimistic about the second half of the year, expecting gradual improvements in the U.S. Retail and Away From Home segments [26][76] Other Important Information - The company has exited non-strategic businesses, such as bulk vinegar, to focus on more profitable areas [45] - There is a commitment to maintaining affordable options for consumers, with a focus on quality and value [37][51] Q&A Session All Questions and Answers Question: Insights on private label share growth and its impact on specific categories - Management noted that while private label brands are gaining share, the company has renovated nearly 100% of its portfolio to remain competitive, focusing on delivering quality and value [8][9] Question: Details on unplanned maintenance at the Away From Home plant - Management confirmed that the maintenance was temporary and production has resumed, with expectations for a full recovery within the quarter [12][14] Question: Expectations for Foodservice growth and challenges in specific brands - Management expects Foodservice to continue growing, with specific challenges in the Oscar Mayer and beverage segments being addressed through strategic renovations and marketing investments [17][33] Question: Impact of SNAP on organic sales and restaurant traffic - The company estimated a few hundred basis points negative impact from SNAP on U.S. Retail, while also noting that restaurant traffic has slowed, affecting the Away From Home business [22][24] Question: Future pricing strategies in light of inflation - Management indicated a commitment to providing affordable options, having passed only 1% of the 3% inflation to consumers in 2023, while continuing to monitor cost inflation in key categories [37][50]

Key PointsKraft Heinz plunges on tepid results; results weren't better than expected, but they aren't bad. The deep-value, high-yield opportunity is still available for income investors. Analysts continue to rate the stock at Hold and see it advancing at least 10%. 5 stocks we like better than Kraft HeinzAs tepid as Kraft Heinz's NASDAQ: KHC Q1 results and guidance for Q2 are, they aren’t bad. The results and guidance align with the company’s forecast for Q1 and the analysts' forecasts for Q1 and Q2, which ...

Cautious lower-income consumers and slower restaurant sales are squeezing Kraft Heinz.The packaged food product company on Wednesday (May 1) released earnings showing a 1.2% drop in sales, driven by lower-income consumers spending less at both the supermarket and on meals away from home. The company said it raised its prices 2.7% year over -year to offset the cost of goods such as coffee.“The gap between high and low earners continues to remain wide, and it shows a clear and continued bifurcation,” CEO Carl ...

Key TakeawaysKraft Heinz shares dropped after the company reported first-quarter results that missed analysts' estimates. The food and beverage giant said its sales and volume/mix dropped as higher prices dragged down demand.Kraft Heinz said the slide in its volume/mix was also hurt by the reduction of Supplemental Nutrition Assistance Program (SNAP) benefits in the U.S. Higher prices weighed on demand for Kraft Heinz (KHC) products, and shares dropped over 6% in early trading Wednesday after the food and ...

The Kraft Heinz Company (KHC) posted first-quarter 2024 results, wherein the bottom line increased year over year and beat the Zacks Consensus Estimate despite the top line declining from the year-ago period.The first-quarter show came in tandem with management’s expectations, including growth in each of the company’s three strategic pillars — Global Away From Home, Emerging Markets and North America Retail ACCELERATE Platforms. Additionally, KHC witnessed continued sequential volume improvement and operati ...

Kraft Heinz (KHC) came out with quarterly earnings of $0.69 per share, beating the Zacks Consensus Estimate of $0.68 per share. This compares to earnings of $0.68 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.47%. A quarter ago, it was expected that this the processed food company with dual headquarters in Pittsburgh and Chicago would post earnings of $0.77 per share when it actually produced earnings of $0.78, delivering ...

Contacts: Alex Abraham (media) Anne-Marie Megela (investors) Alex.Abraham@kraftheinz.com anne-marie.megela@kraftheinz.com KRAFT HEINZ REPORTS FIRST QUARTER 2024 RESULTS Reaffirms Full Year Outlook First Quarter Highlights PITTSBURGH & CHICAGO – May 1, 2024 – The Kraft Heinz Company (Nasdaq: KHC) ("Kraft Heinz" or the "Company") today reported financial results for the first quarter of 2024. Exhibit 99.1 Abrams-Rivera continued, "As a result, we are reiterating our outlook for 2024 and remain confident in ou ...

Warren Buffett may be the Oracle of Omaha, but his track record isn’t perfect. Just look to his losing airline play that saw Buffett dump a slew of airline stocks, including Delta (NYSE:DAL) and American (NASDAQ:AAL), at or near their initial pandemic bottom in May 2020 — companies which, like Delta, nearly doubled in the interim.Likewise, many consider Buffett’s age a concern as Berkshire Hathaway’s (NYSE:BRK-A, NYSE:BRK-B) future remains uncertain. While always a concern, investors’ fears magnified after ...

As The Kraft Heinz Company (KHC) gears up to report its first-quarter 2024 results on May 1, before market open, investors find themselves at a crossroads, evaluating the company's trajectory amid a challenging operational landscape. With quarterly projections indicating a dip in revenue and a stagnant bottom-line figure, the upcoming earnings release prompts a critical question — Should one approach KHC with caution ahead of this event?The Zacks Consensus Estimate for the to-be-reported quarter’s revenues ...

In its upcoming report, Kraft Heinz (KHC) is predicted by Wall Street analysts to post quarterly earnings of $0.68 per share, reflecting no change compared to the same period last year. Revenues are forecasted to be $6.42 billion, representing a year-over-year decrease of 1.1%.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Ahead of a ...