Kraft Heinz Q3 FY2026: sales fall 2.0%, adjusted EPS beats, outlook floor raised
Kraft Heinz's fiscal 2026 third quarter was a shrinking top line with a better-than-expected bottom line: sales fell 2.0% to $6.12 billion, adjusted EPS of $0.53 beat the $0.4282 consensus, and management raised the low end of its organic sales outlook. Read the beat as interest and tax timing rather than a recovery — volume still fell and North America remains the weak spot.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was $0.46, down 11.5%, while adjusted EPS of $0.53 came in well above the $0.4282 consensus. The catch is where the beat came from: lower interest expense and a lower tax rate on adjusted earnings, not operations, since adjusted operating income fell 15.2% to $0.94 billion. Adjusted gross margin also slipped 40 basis points to 31.9%.
Net sales came in at $6.12 billion, down 2.0% from $6.24 billion a year earlier, and organic sales fell 1.1%. Price was flat and volume/mix cost 1.1 percentage points, roughly 80 basis points of which came from inventory retailers pulled forward into the second quarter. North America dropped 3.4% while Emerging Markets grew 13.8% — the growth is real but too small to offset the core.
Log in to read 35 analyses a week for free
Create a free account to read 35 full earnings analyses each week — all five steps: expected vs. actual, guidance tracker, money flow, balance sheet and risks. Members get unlimited access.
Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-04
Answers are based on the earnings release and the analysis above. Free accounts get 3 questions a week; members get 30 a day.