EarningsQ2 2026 Earnings Report
MX:KHC Q2 2026 EPS Results
Actual EPS$9.61
Consensus EPS$9.28
Beat/MissBeat by +$0.33
One Year Ago EPS$11.84
MX:KHC Q2 2026 Revenue Results
Actual Revenue$107.43B
Expected Revenue$105.96B
Beat/MissBeat by +$1.47B
YoY Revenue Growth-1.42%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeBefore Open
Conference CallWednesday, August 5, 2026
MX:KHC Upcoming Earnings
Kraft Heinz's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:KHC Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized improving operational momentum driven by targeted investments, early brand-level wins (PowerMac, Capri Sun, Heinz, condiments), emerging markets strength, and disciplined balance-sheet management. Key challenges remain: Q2 consumption is down (~2.5%), Oscar Mayer/Deli Fresh needs remediation, inventory and shipment phasing create near-term noise, and industry softness plus retailer private-label activity present ongoing risks. Management added $100M to its investment plan, expressed confidence in managing 4–5% inflation next year via productivity, and preserved free cash flow while paying down debt. On balance the positives (investment traction, brand and channel recoveries, cash/debt progress) outweigh the negatives, though execution risk remains.Company Guidance
Incremental Brand Investment Increased to $700M
Company increased its planned incremental investment from $600 million to $700 million for 2026, with roughly one-third of the original $600 million spent in the first half and the additional $100 million allocated largely to marketing.
Consumption Trend Improving (Q2 → July)
Consumption declined about 2.5% in Q2 but showed sequential improvement into July (~-1%), with management expecting further improvement in Q3 and Q4.
Emerging Markets and Heinz Strength
Heinz performed strongly in emerging markets, up ~12% in the quarter; Heinz worldwide is +3% year-to-date, contributing materially to growth outside the U.S.
U.S. Condiments and Selected Brands Gaining Traction
U.S. condiments are +3% year-to-date (after being flat last year); Taste Elevation brands (Capri Sun, Mac & Cheese, Ore-Ida, Philly) showing early 'green shoots' and improved consumption metrics.
PowerMac & Cheese Early Success
PowerMac distribution reached ~35,000 stores with consumption performance in the first quartile of innovations and management describing it as incremental to category growth.
Market Share Stabilization and Recent Improvement
First half share loss was ~30 basis points (improved from ~90 bps earlier in 2025); most recent weeks show ~+20 bps, indicating stabilization and early recovery in share trends.
Away From Home Channel Recovery
Global Away From Home channel is back to growth after prior underperformance, reflecting successful customer and distribution actions.
Maintained Cash Flow and Strong Balance Sheet Actions
Free cash flow guidance (dollar amount) preserved, cash conversion expectation increased, $1.9 billion of debt paid down in the quarter plus an additional ~$1.0 billion paid after quarter-close, and a successful refinancing of an expensive maturity.
Surgical Pricing Strategy and Inflation Preparedness
Management described targeted pricing (package architecture, price points) rather than blanket increases; expects 2027 inflation in a 4–5% range and believes this is manageable through productivity and pricing actions.
MX:KHC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed