Shares in Kraft Heinz fell sharply in pre-market trade after the food conglomerate said profit would be below forecasts and missed quarterly sales estimates on the back of weak demand price rises.
Source: Sharecast
Kraft Heinz said it expected fiscal 2025 adjusted earnings per share to be $2.63 - $2.74, compared with analysts' average estimates of $3.04. Shares were down 6% on the news.
The company posted fourth-quarter revenue of $6.58bn, compared with analysts' estimates of $6.66bn.
Kraft expects 2025 organic net sales to range from flat to down 2.5% year on year with sequential improvement throughout each quarter, with a flat to slightly positive contribution from price throughout the year.
Reporting by Frank Prenesti for Sharecast.com
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