Summary by Moomoo AI
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
