The Kraft Heinz Company (NASDAQ: KHC), a leading food and beverage manufacturer, has announced financial results for the fourth quarter of 2024.
- The company’s fourth-quarter net sales decreased 4.1% annually to $6.58 billion; Organic net sales dropped 3.1%
- In North America and International Developed Markets, sales declined 3.9% and 3.6% respectively during the quarter
- In Emerging Markets, net sales declined 6.8% year-over-year in the final three months of fiscal 2024
- Q4 gross profit margin increased 30 basis points to 34.1%; adjusted gross profit margin decreased 40 basis points to 34.4%
- Kraft Heinz reported an operating loss of $40 million for Q4, compared to a profit of $1.3 billion a year earlier
- Earnings, on a per-share basis, more than doubled to $1.76 in the December quarter; adjusted earnings per share rose 7.7% annually to $0.84