Kraft Heinz reported a net loss of $290 million for Q3 2024, compared to a $262 million profit in Q3 2023. The company's EPS declined from $0.21 to -$0.24 YoY. For the nine months ended September 28, 2024, net income decreased to $613 million from $2,098 million in the same period last year, with diluted EPS falling from $1.70 to $0.50.The company made significant debt repayments, including €550 million in May 2024 and €750 million in June 2023. As of September 28, 2024, Kraft Heinz's total debt had a fair value of $19.9 billion compared to a carrying value of $20.1 billion. The company also faced a construction delay in a distribution facility project, which is expected to require substantial incremental costs.In Q1 2024, Kraft Heinz restructured its internal reporting and segments. The International segment was divided into three operating...Show More

Kraft Heinz reported a net loss of $290 million for Q3 2024, compared to a $262 million profit in Q3 2023. The company's EPS declined from $0.21 to -$0.24 YoY. For the nine months ended September 28, 2024, net income decreased to $613 million from $2,098 million in the same period last year, with diluted EPS falling from $1.70 to $0.50.The company made significant debt repayments, including €550 million in May 2024 and €750 million in June 2023. As of September 28, 2024, Kraft Heinz's total debt had a fair value of $19.9 billion compared to a carrying value of $20.1 billion. The company also faced a construction delay in a distribution facility project, which is expected to require substantial incremental costs.In Q1 2024, Kraft Heinz restructured its internal reporting and segments. The International segment was divided into three operating segments: EPDM, WEEM, and AEM. The company now manages its operations through four segments, with two reportable segments defined by geographic region: North America and International Developed Markets. WEEM and AEM are combined and disclosed as Emerging Markets. This restructuring aims to enhance focus on different regional strategies as part of the company's long-term plan.