Kraft Heinz reported Q3 2024 net sales of $6.4 billion, down 2.8% from $6.6 billion in Q3 2023, with organic net sales declining 2.2%. The decrease was primarily driven by unfavorable volume/mix of 3.4%, partially offset by higher pricing of 1.2%. The company recorded non-cash impairment losses of $1.4 billion, leading to an operating loss of $101 million compared to operating income of $653 million in the prior year period.North America segment sales decreased 3.4% to $4.8 billion, while International Developed Markets remained relatively flat at $882 million. Emerging Markets sales declined 2.4% to $675 million but showed organic growth of 4.9%. Adjusted Operating Income increased 1.4% to $1.3 billion, driven by higher pricing and efficiency initiatives, despite increased manufacturing expenses and unfavorable volume/mix.Looking ahead, the company expects inflation to moderate through the remainder of 2024 compared to 2023 levels. Management continues to implement efficiency initiatives and pricing actions to mitigate input cost pressures, while acknowledging that pricing actions have impacted market share in some instances. The company maintained its quarterly dividend of $0.40 per share.

Kraft Heinz reported Q3 2024 net sales of $6.4 billion, down 2.8% from $6.6 billion in Q3 2023, with organic net sales declining 2.2%. The decrease was primarily driven by unfavorable volume/mix of 3.4%, partially offset by higher pricing of 1.2%. The company recorded non-cash impairment losses of $1.4 billion, leading to an operating loss of $101 million compared to operating income of $653 million in the prior year period.North America segment sales decreased 3.4% to $4.8 billion, while International Developed Markets remained relatively flat at $882 million. Emerging Markets sales declined 2.4% to $675 million but showed organic growth of 4.9%. Adjusted Operating Income increased 1.4% to $1.3 billion, driven by higher pricing and efficiency initiatives, despite increased manufacturing expenses and unfavorable volume/mix.Looking ahead, the company expects inflation to moderate through the remainder of 2024 compared to 2023 levels. Management continues to implement efficiency initiatives and pricing actions to mitigate input cost pressures, while acknowledging that pricing actions have impacted market share in some instances. The company maintained its quarterly dividend of $0.40 per share.