Kraft Heinz reported Q2 2024 net sales of $6.48 billion, down 3.6% from $6.72 billion in Q2 2023, with organic net sales declining 2.4%. The decrease was primarily driven by unfavorable volume/mix of 3.4%, partially offset by higher pricing of 1.0%. Operating income fell 62.1% to $522 million, mainly due to an $854 million non-cash goodwill impairment charge related to the Meat & Cheese reporting unit.The company's North America segment, its largest division, saw net sales decrease 3.1% to $4.92 billion, while International Developed Markets declined 5.0% to $885 million. Emerging Markets net sales fell 5.7% to $670 million, though organic net sales grew 3.4%. Segment Adjusted Operating Income increased 2.0% to $1.38 billion, driven by lower commodity costs and reduced logistics expenses.Looking ahead, Kraft Heinz expects inflation to moderate through the remainder of 2024 compared to 2023 levels. The company continues to manage commodity cost volatility through pricing actions and hedging strategies. Capital expenditures for 2024 are projected at approximately $1.1 billion, focused on growth initiatives including capacity expansion, digital projects, and innovation.

Kraft Heinz reported Q2 2024 net sales of $6.48 billion, down 3.6% from $6.72 billion in Q2 2023, with organic net sales declining 2.4%. The decrease was primarily driven by unfavorable volume/mix of 3.4%, partially offset by higher pricing of 1.0%. Operating income fell 62.1% to $522 million, mainly due to an $854 million non-cash goodwill impairment charge related to the Meat & Cheese reporting unit.The company's North America segment, its largest division, saw net sales decrease 3.1% to $4.92 billion, while International Developed Markets declined 5.0% to $885 million. Emerging Markets net sales fell 5.7% to $670 million, though organic net sales grew 3.4%. Segment Adjusted Operating Income increased 2.0% to $1.38 billion, driven by lower commodity costs and reduced logistics expenses.Looking ahead, Kraft Heinz expects inflation to moderate through the remainder of 2024 compared to 2023 levels. The company continues to manage commodity cost volatility through pricing actions and hedging strategies. Capital expenditures for 2024 are projected at approximately $1.1 billion, focused on growth initiatives including capacity expansion, digital projects, and innovation.