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$KHC (+0,38%) | Kraft Heinz Q3 2024 Earnings Highlights


๐Ÿ”น Adjusted EPS: $0.75 (Est. $0.74) ๐ŸŸข; UP +4.2% YoY

๐Ÿ”น Revenue: $6.4B (Est. $6.43B) ๐Ÿ”ด; DOWN -2.8% YoY


FY24 Guidance:

๐Ÿ”น Adjusted EPS: $3.01-$3.07 (Prior Est.: $3.02) ๐ŸŸก

๐Ÿ”น Organic Net Sales: Now expected at the low end of the prior range of -2% to flat YoY

๐Ÿ”น Adjusted Operating Income Growth: Expected at the low end of 1%-3%

๐Ÿ”น Adjusted Gross Profit Margin Expansion: At the low end of 75-125 bps YoY

๐Ÿ”น Effective Tax Rate on Adjusted EPS: ~21%

๐Ÿ”น Interest and Other Expenses: Expected to remain flat YoY

๐Ÿ”น Future Potential Share Repurchases: Not reflected in current guidance


Q3 Segment Performance

North America

๐Ÿ”น Revenue: $4.83B (DOWN -3.4% YoY)

๐Ÿ”น Organic Net Sales: DOWN -3.2% YoY

๐Ÿ”ธ Price Contribution: +1.2 pp

๐Ÿ”ธ Volume/Mix: -4.4 pp


International Developed Markets

๐Ÿ”น Revenue: $882M (DOWN -0.2% YoY)

๐Ÿ”น Organic Net Sales: DOWN -1.8% YoY

๐Ÿ”ธ Price Contribution: -1.0 pp

๐Ÿ”ธ Volume/Mix: -0.8 pp


Emerging Markets

๐Ÿ”น Revenue: $675M (DOWN -2.4% YoY)

๐Ÿ”น Organic Net Sales: UP +4.9% YoY

๐Ÿ”ธ Price Contribution: +3.8 pp

๐Ÿ”ธ Volume/Mix: +1.1 pp


Profitability Metrics

๐Ÿ”น Gross Profit Margin: 34.2% (UP +20 bps YoY)

๐Ÿ”น Adjusted Gross Profit Margin: 34.3% (UP +30 bps YoY)

๐Ÿ”น Operating Income: -$101M (DOWN -115.5% YoY) due to $1.4B in non-cash impairment losses

๐Ÿ”น Adjusted Operating Income: $1.33B (UP +1.4% YoY)


Cash Flow and Capital Return

๐Ÿ”น Net Cash from Operations (YTD): $2.8B (UP +6.7% YoY)

๐Ÿ”น Free Cash Flow (YTD): $2.0B (UP +9.7% YoY)

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