- THE KRAFT HEINZ
- 04 November 2026 15:12:51
Source: Sharecast
Posting third-quarter numbers, the ketchup and baked beans maker - which also owns Jello, Kool-Aid, Capri Sun, HP Sauce and Philadelphia, among others - said net sales decreased by 2.0% in three months to 26 September to $6.1bn, or by 1.1% on an organic basis, while adjusted earnings per share fell 13.1% to $0.53.
However, both figures beat estimates. Wall Street had been expecting sales of $6.09bn and EPS closer to $0.42.
As a result, the Pittsburgh and Chicago-headquartered company now expects annual organic net sales to decline by 1.25% and 0.5%, an improvement on previous guidance for a fall of up to 2%.
The adjusted EPS range was also improved, to between $2.07 and $2.13.
Under chief executive Steve Cahillane, who took over in January, Kraft Heinz has unveiled a $700m investment on marketing and innovation while refocusing on its core packaged food and condiments offering. As part of that, it also announced on Wednesday it had agreed to sell its coffee business, which owns Maxwell House, to private equity firm One Rock Capital Partners in a deal that values the unit at $650m. Heinz Kraft will retain a 30% stake.
Cahillane said: "Our 2026 operating plan to turn around the US business and accelerate growth internationally is one track. Our market share, sales and volume trends are improving in every region.
"We are increasingly meeting consumers where they are, and giving them more reasons to choose our brands."
As at 1430 GMT, the Wall Street-listed stock was up 4%.