BUZZ-Kraft Heinz falls on gloomy annual profit forecast

Packaged food maker Kraft Heinz's KHC.O shares down 3.7% at $28.46 premarket

Company expects annual adjusted earnings per share in the range of $2.63 to $2.74, compared with analysts' average estimates of $3.04, as per data compiled by LSEG

Co forecasts annual organic net sales between flat to down 2.5%, compared to analysts' expectations of a 0.23% increase

Quarterly net sales decreased 4.1% to $6.58 billion, missing analysts' estimates of $6.66 billion

Co's North American segment sales fell 3.9% while sales in emerging markets segment fell 6.8% in the quarter

KHC stock fell 16.96% in 2024