Analysts Remain Bullish on Kraft Heinz Despite Sales Decline: Cost Efficiencies and Future Foodservice Initiatives Boost Optimism
Analysts Remain Bullish on Kraft Heinz Despite Sales Decline: Cost Efficiencies and Future Foodservice Initiatives Boost Optimism
BofA Securities analyst Bryan D. Spillane reiterated the Buy rating on The Kraft Heinz Company (NASDAQ:KHC), raising the price forecast to $40 from $38.
美銀證券分析師Bryan D. Spillane重申了對卡夫亨氏公司（NASDAQ:KHC）的買入評級，將價格預測由38美元上調至40美元。
Yesterday, the company reported a second-quarter FY24 sales decline of 3.6% year-on-year to $6.48 billion, missing the analyst consensus estimate of $6.55 billion.
昨天，該公司報告了第二季度FY24的銷售額同比下降3.6%至64.8億美元，未達到分析師共識預期的65.5億美元。
Sales in North America declined 3.1% Y/Y, and International Developed Markets dropped 5%. Organic net sales slipped 2.4%.
北美銷售下降了3.1% YoY，發達國際市場下降了5%。有機淨銷售額下降了2.4%。
Spillane highlights that total company price contribution for the year is now expected to be flat to slightly positive, while sequential volume improvement in the second half, though not back to positive, is expected.
Spillane指出，全年公司的價格貢獻現預計持平或略有增長，第二半年雖不會回到正增長，但有望有連續性的成交量改善。
The analyst models FY24 -1.5% organic sales growth (-2.5% volume and +1% price). Spillane also raised the FY24 EPS estimate to $3.00 from $2.90 and maintained FY25-26 EPS of $3.04 and $3.21.
該分析師預測FY24期有機銷售增長爲-1.5%（捲菸和零售價格分別降低了2.5%和上漲了1%）。Spillane還將FY24 EPS估計從2.90美元上調至3.00美元，並維持FY25-26 EPS爲3.04美元和3.21美元。
Also Read: Bitcoin, Ethereum, Dogecoin Slip Amid Flare-Up Of Iran-Israel Tensions: Analyst Says 'A Big Move Is Coming Soon' For King Crypto
還閱讀：隨着伊朗 - 以色列緊張局勢加劇，比特幣、以太幣、狗狗幣下滑：分析師表示，主流加密貨幣將迎來“重大行動”
Stifel analyst Matthew E. Smith reiterated the Buy rating on Kraft Heinz with a price forecast of $40.
Stifel分析師Matthew E. Smith重申了對卡夫亨氏的買入評級，並預測其股價目標爲40美元。
The lower topline outlook is not surprising given the weaker consumption environment while greater cost efficiencies limit the profit impact and support greater investments to improve revenue growth, the analyst writes.
該分析師在文章中寫道，鑑於消費環境的疲弱，營收前景較弱不足爲奇，而更大的成本效益可以限制利潤影響，並支持更大的投資以改善營收增長。
Smith now estimates a 1% organic sales decline for the year (versus +0.5% previously), over 2.5% operating profit growth (+3% previously), and EPS growth of 2% to $3.04 (inline with previous expectation).
Smith現在預計全年有機銷售下滑1%（而不是先前的+0.5%），運營利潤增長超過2.5%（而不是先前的+3%），EPS增長2%至3.04美元（符合之前的預期）。
The analyst expects 40bps of expansion in the second half driven by productivity programs as the company laps the benefit of initiatives that began in the second half of 2023.
該分析師預計，由於生產力項目的推動，第二半年有40個點子的擴張，該公司應對措施的收益結果落實到第二半年。
Piper Sandler analyst Michael S. Lavery reiterated the Overweight rating with a price forecast of $41.
派傑投資分析師Michael S. Lavery重申了超重評級，預測其股價目標爲41美元。
According to the analyst, Foodservice initiatives can be a catalyst, but not until 2025. KHC upgraded its 'Keystone' counter-top sauce dispensers for restaurants. KHC expects it to drive new, incremental customers as well as replacements from existing customers.
該分析師表示，Foodservice計劃可能成爲一種催化劑，但要到2025年以後才有可能。KHC升級了其餐廳的“Keystone”檯面醬料分配器。預計將帶來新的增量客戶以及現有客戶的替換。
Foodservice growth is slow at the moment (+1.5% excluding planned product exits and its 2Q24 plant closure), but historically has outperformed food at home, the analyst adds.
分析師補充道，目前食品服務行業增長緩慢，（2Q24計劃退出產品和工廠關閉除外）增幅爲1.5%，但所述行業歷史上表現優於家庭食品。
The analyst also projects that Heinz Sauce Wand (launching in 2025) will drive meaningful incremental revenues.
該分析師還預計，Heinz Sauce Wand（將於2025年推出）將帶動有意義的增量收入。
Other initiatives like sauce taps and its Remix machines can potentially be additive as well. Lavery raised 2024 EPS from $2.95 to $3.01 and 2025 from $3.14 to $3.20.
其他計劃，如醬龍頭和其Remix機器也可能具有附加價值。Lavery將2024年EPS從2.95美元上調至3.01美元，2025年從3.14美元上調至3.20美元。
Price Action: KHC shares are trading lower by 0.27% to $35.12 at last check Thursday.
價格行動：截至週四最後交易時，KHC股價下跌了0.27%，報35.12美元。
Photo by ImipolexG via Flickr
Photo by ImipolexG via Flickr
- Trump Launches Limited Edition Bitcoin-Themed Sneakers Following Bitcoin 2024 Keynote: Report
- 特朗普發佈限量版比特幣主題運動鞋，這是在比特幣2024年演講後推出的。