Kraft Heinz(US:KHC) ZACKSยท2024-10-30 13:16Group 1: Earnings Performance - Kraft Heinz reported quarterly earnings of $0.75 per share, exceeding the Zacks Consensus Estimate of $0.74 per share, and up from $0.72 per share a year ago [1] - The earnings surprise for this quarter was 1.35%, following a previous quarter where the company had a surprise of 6.85% by reporting $0.78 per share against an expectation of $0.73 [2] - Over the last four quarters, Kraft Heinz has consistently surpassed consensus EPS estimates [2] Group 2: Revenue Performance - The company posted revenues of $6.38 billion for the quarter ended September 2024, which was below the Zacks Consensus Estimate by 0.38% and down from $6.57 billion year-over-year [3] - Kraft Heinz has not been able to beat consensus revenue estimates over the last four quarters [3] Group 3: Stock Performance and Outlook - Kraft Heinz shares have declined approximately 5.9% since the beginning of the year, contrasting with the S&P 500's gain of 22.3% [4] - The current consensus EPS estimate for the upcoming quarter is $0.81 on revenues of $6.81 billion, and for the current fiscal year, it is $3.01 on revenues of $26.11 billion [8] - The estimate revisions trend for Kraft Heinz is currently unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [7] Group 4: Industry Context - The Food - Miscellaneous industry, to which Kraft Heinz belongs, is currently ranked in the top 36% of over 250 Zacks industries, suggesting a favorable industry outlook [9] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Kraft Heinz's stock performance [6]