FX.co ★ Kraft Heinz Reaffirms FY24 Adj. EPS Outlook - Update

Kraft Heinz Co. (KHC) announced its financial results for the second quarter on Wednesday, reaffirming its guidance for adjusted earnings and organic net sales growth for the full year 2024.

For fiscal 2024, the company continues to anticipate adjusted earnings between $3.01 and $3.07 per share. However, it now expects organic net sales to decrease by 2% to remain flat, a revision from the earlier forecast of 0% to 2% growth.

Analysts surveyed by Thomson Reuters were predicting earnings of $3.01 per share with a revenue growth of 7.2%, amounting to $26.51 billion for the year. These analysts’ estimates typically exclude special items.

In addition, the Board of Directors declared a regular quarterly dividend of $0.40 per share of common stock. This dividend will be payable on September 27, 2024, to stockholders of record as of August 30, 2024.