Kraft Heinz trims organic sales growth outlook for 2024, reports mixed Q2 results
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Kraft Heinz Reports Second Quarter 2024 Results
July 31, 2024 7:00 AM EDTLowers Full Year Outlook for Organic Net Sales(1)(2) and Adjusted Operating Income(1)(2)
Reaffirms Full Year Outlook for Adjusted EPS(1)(2)
Second Quarter Highlights
Net sales decreased 3.6%; Organic Net Sales(1) decreased 2.4%Gross profit margin increased 180 basis points to 35.4%; Adjusted Gross Profit Margin(1) increased 210 basis points to 35.5%
Operating income decreased 62.1%; Adjusted Operating Income(1) increased 2.0%
Diluted EPS was $0.08, down 90.1%; Adjusted EPS(1) was $0.78, down 1.3%
Year-to-date net cash provided by operating activities was $1.7 billion, up 8.1%; Free Cash Flow(1) was $1.2 billion, up... More
