KHC - Kraft Heinz Faces Revenue Slump In Q1 CEO Remains Optimistic On Growth Plan | Benzinga
Kraft Heinz Company (NASDAQ:KHC) shares are trading lower after the company’s first-quarter FY24 revenue missed the street estimates.
The company reported a first-quarter FY24 sales decline of 1.2% year-on-year to $6.411 billion, missing the analyst consensus estimate of $6.429 billion.
Sales in North America declined 1.2% Y/Y, and International Developed Markets slipped 0.6%. Organic net sales slipped 0.5%.
Gross profit increased by 6.2% Y/Y to $2.24 billion, with the margin expanding 240 points to 35%.
Operating margin for the quarter was 20.3%, and the ...