BUZZ-Kraft Heinz falls on gloomy annual profit forecast
ReutersFeb 12, 2025 3:33 PM
Updates
Packaged food maker Kraft Heinz's KHC.O shares down 3.3% at $28.58, their lowest since September 2020
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
Margins are likely to decline in 2025, mainly because of higher variable compensation costs along with increased investments in trade and marketing - Gimme Credit Research
KHC stock fell 16.96% in 2024
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