Kraft Heinz's (KHC) first-quarter 2024 results reflect soft sales due to the lower volume/mix. However, higher adjusted operating income fuels earnings growth.
Kraft Heinz reported disappointing first-quarter sales as consumers reacted to higher prices. For the first three months of the year, Kraft Heinz generated 69 cents a share in adjusted earnings, the company said Wednesday. It marked a rare back-to-back sales decline for Kraft Heinz, which also reported lower sales than a year earlier in the previous quarter.
Kraft Heinz (KHC) delivered earnings and revenue surprises of 1.47% and 0.13%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?