Jun 2026 (Q2 FY26) — Aug 5, 2026
The Kraft Heinz Company Q2 FY26 — Top-Line Beat and Raised Sales Guidance Funded by Reinvestment
Read the full callKraft Heinz (KHC) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Kraft Heinz earnings: last reported Wed, 5 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 6,262 | −1.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | -102.7 | +22.8 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -5,460 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
What management said, and what became of it
21 of 30 judged targets kept · 34 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Capri Sun Hydrate rollout | on shelves throughout the second quarter of 2026 | Mar 2026 | We rolled out to major retailers early in the second quarter, and it has quickly become the fastest-turning innovation in kids single-serve beverages | Achieved |
| Full-year adjusted EPS | $1.98 to $2.10 | Dec 2025 | As a result, we expect adjusted EPS to be in the range of $2.03 to $2.09 versus our previous expectations of $1.98 to $2.10 | Revised Up |
| Divestiture of the infant and specialty food business in Italy | close by the first quarter of 2026 | Sep 2025 | Ghosted |
9 of Kraft Heinz Co's 64 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 61 more targets are in the full ledger.
Claimed
- Raised FY26 organic net sales outlook to down 2.0% to down 0.5% (prior: down 3.5% to down 1.5%) driven by emerging markets and away-from-home momentum.
- Year-to-date free cash flow reached $1.7B (up 10% YoY) with free cash flow conversion raised to ~110% for the full year.
- Delivered over $330M in gross efficiencies year-to-date, representing at least 4% of COGS, offsetting inflation and holding Q2 adjusted gross margin flat YoY.
- Substantial balance sheet debt reduction with $1.9B retired at June maturity and an additional $1.0B repaid post-quarter.
Qualified
- Constant currency adjusted operating income fell 18.4% YoY in Q2, with Q3 FY26 operating income guided down 23% to 25% YoY due to stepped-up brand investments and incentive comp.
- Recognized a non-cash impairment charge of $7.4B in Q2 FY26.
- Volume/mix declined 2.6% YoY in Q2 FY26, weighed down by weak meat category performance and a 100 bps Easter calendar shift.
- U.S. Retail faces an 80 bps headwind in Q3 FY26 from the reversal of a Q2 summer holiday customer inventory pull-forward.
Price
$23.17 −2.15% · −$0.51
Performance −9.2% 1Y
1Y: $25.52 on 17 Oct 2025 → $23.17. High $27.62 (29 Jul 2026), low $21.21 (23 Mar 2026).
- Previous close
- $23.68
- 52-week range
- $21.21 – $27.62
- One year
- −9.88%
Overview
- Symbol
- KHC
- Sector
- Consumer Staples
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
21 of 30 judged targets kept · 34 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Capri Sun Hydrate rollout | on shelves throughout the second quarter of 2026 | Mar 2026 | We rolled out to major retailers early in the second quarter, and it has quickly become the fastest-turning innovation in kids single-serve beverages | Achieved |
| Full-year adjusted EPS | $1.98 to $2.10 | Dec 2025 | As a result, we expect adjusted EPS to be in the range of $2.03 to $2.09 versus our previous expectations of $1.98 to $2.10 | Revised Up |
| Divestiture of the infant and specialty food business in Italy | close by the first quarter of 2026 | Sep 2025 | Ghosted |
Claimed
- Raised FY26 organic net sales outlook to down 2.0% to down 0.5% (prior: down 3.5% to down 1.5%) driven by emerging markets and away-from-home momentum.
- Year-to-date free cash flow reached $1.7B (up 10% YoY) with free cash flow conversion raised to ~110% for the full year.
- Delivered over $330M in gross efficiencies year-to-date, representing at least 4% of COGS, offsetting inflation and holding Q2 adjusted gross margin flat YoY.
- Substantial balance sheet debt reduction with $1.9B retired at June maturity and an additional $1.0B repaid post-quarter.
Qualified
- Constant currency adjusted operating income fell 18.4% YoY in Q2, with Q3 FY26 operating income guided down 23% to 25% YoY due to stepped-up brand investments and incentive comp.
- Recognized a non-cash impairment charge of $7.4B in Q2 FY26.
- Volume/mix declined 2.6% YoY in Q2 FY26, weighed down by weak meat category performance and a 100 bps Easter calendar shift.
- U.S. Retail faces an 80 bps headwind in Q3 FY26 from the reversal of a Q2 summer holiday customer inventory pull-forward.
The full ledger
Open Kraft Heinz Co’s full ledger
A free account opens 5 company ledgers a month. All 64 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 6, 2026
Kraft Heinz Q1 FY26 — Strong Start with Improved Market Share and Productivity
Read the full callDec 2025 (Q4 FY25) — Feb 11, 2026
The Kraft Heinz Company Q4 FY25 — Strategic Investments for Future Growth
Read the full callEvery analysed call
Kraft Heinz earnings calls (KHC)
Financials
What the filings say
Net profit, year on year: +30% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 6,383 | 6,576 | 5,999 | 6,352 | 6,237 | 6,354 | 6,047 | 6,262 |
| Operating profit | -101 | -40 | 1,196 | -7,974 | 1,025 | 1,084 | 1,145 | -6,431 |
| Operating margin | −1.6% | −0.6% | 19.9% | −125.5% | 16.4% | 17.1% | 18.9% | −102.7% |
| Interest | 230 | 227 | 229 | 240 | 240 | 238 | 236 | -31 |
| Profit before tax | -283 | -238 | 1,018 | -8,167 | 807 | 897 | 1,010 | -6,376 |
| Tax rate | −2.5% | 995.8% | 29.9% | 4.2% | 24.0% | 27.8% | 20.9% | 14.4% |
| Net profit | -290 | 2,131 | 712 | -7,824 | 615 | 651 | 798 | -5,460 |
| EPS ($ per share) | -0.24 | — | 0.60 | -6.60 | 0.52 | — | 0.67 | -4.60 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves | -4,853 | -3,060 | -2,694 | -1,682 | 489 | 1,367 | 2,171 | -4,629 |
| Total liabilities | 51,683 | 49,701 | 49,587 | 43,942 | 41,643 | 40,617 | 38,962 | 39,997 |
| Fixed assets | 7,078 | 7,055 | 6,876 | 6,806 | 6,740 | 7,122 | 7,152 | 7,318 |
| Investments | — | — | — | — | — | — | 0 | 1,060 |
| Total assets | 103,461 | 101,450 | 99,830 | 93,394 | 90,513 | 90,339 | 88,287 | 81,786 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 2,574 | 3,552 | 4,929 | 5,364 | 2,469 | 3,976 | 4,184 | 4,462 |
| Cash from investing | 288 | 1,511 | -522 | 4,038 | -1,091 | -916 | -1,023 | -1,833 |
| Cash from financing | -3,363 | -3,913 | -3,331 | -9,344 | -3,714 | -2,678 | -3,008 | -1,251 |
| Net cash flow | -633 | 1,144 | 1,138 | 28 | -2,405 | 363 | 82 | 1,458 |
| Capital expenditure | -826 | -768 | -596 | -905 | -916 | -1,013 | -1,024 | -801 |
| Free cash flow | 1,748 | 2,784 | 4,333 | 4,459 | 1,553 | 2,963 | 3,160 | 3,661 |
KHC revenue by segment
Emerging Markets grew from 11% to 12% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| North America | 76% | 76% | 75% | 75% | 74% | 74% | 74% | 74% | -2.8% |
| International Developed Markets | 14% | — | 14% | 14% | 14% | — | 14% | 14% | -3.6% |
| Emerging Markets | 11% | — | 12% | 11% | 11% | — | 12% | 12% | +10.5% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
57 filings between Nov 5, 2025 and Jun 18, 2026.
Open market
decisions to buy or sellPurchases
$5.00M
1 purchase by 1 insider
Sales
$6.98M
5 sales by 3 insiders
80% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 43
- Award — granted as compensation
- 8
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Patricio Miguel | — | $6.21M | Dec 18, 2025 |
| CAHILLANE STEVEN A | $5.00M | — | May 12, 2026 |
| Frost Diana | — | $426.5K | Jun 18, 2026 |
| Onell Cory | — | $344.1K | Mar 3, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Jun 18, 2026 | Frost Diana Glbl Chief Growth Officer | Sale | 18,502 | $426.5K |
| May 14, 2026 | CAHILL JOHN T Director | Award | 13,085 | $305.0K |
| May 14, 2026 | Kelley Mary Lou Director | Award | 793 | $18.5K |
| May 14, 2026 | PALMER ANTHONY J. Director | Award | 7,937 | $185.0K |
| May 14, 2026 | Cox L Kevin Director | Award | 7,937 | $185.0K |
| May 14, 2026 | Alfonso Humberto P Director | Award | 7,937 | $185.0K |
| May 14, 2026 | Sceti Elio Leoni Director | Award | 7,937 | $185.0K |
| May 14, 2026 | Kelley Mary Lou Director | Award | 7,937 | $185.0K |
| May 14, 2026 | POPE JOHN C Director | Award | 7,937 | $185.0K |
| May 14, 2026 | PALMER ANTHONY J. Director | Award | 793 | $18.5K |
| May 14, 2026 | Sceti Elio Leoni Director | Award | 3,218 | $75.0K |
| May 14, 2026 | Fouche Lori Dickerson Director | Award | 7,937 | $185.0K |
| May 14, 2026 | Alfonso Humberto P Director | Award | 3,218 | $75.0K |
| May 14, 2026 | Gherson Diane J Director | Award | 7,937 | $185.0K |
| May 12, 2026 | CAHILLANE STEVEN A Chief Executive Officer | Purchase | 213,106 | $5.00M |
| Mar 3, 2026 | Onell Cory Chief Omnich Sales & AEM Ofcr | Sale 10b5-1 plan | 4,991 | $121.5K |
| Mar 2, 2026 | Onell Cory Chief Omnich Sales & AEM Ofcr | Sale 10b5-1 plan | 9,045 | $222.6K |
| Mar 1, 2026 | Maciel Andre EVP & Global CFO | Tax withheld | 36,137 | $889.3K |
| Mar 1, 2026 | Maciel Andre EVP & Global CFO | Award | 38,171 | $0 |
| Mar 1, 2026 | Maciel Andre EVP & Global CFO | Award | 6,187 | $152.3K |
| Mar 1, 2026 | Maciel Andre EVP & Global CFO | Award | 86,348 | $0 |
| Mar 1, 2026 | Aydin Janelle Marie Chief Procur & Sust Ofcr | Award | 9,603 | $0 |
| Mar 1, 2026 | Aydin Janelle Marie Chief Procur & Sust Ofcr | Award | 39,102 | $0 |
| Mar 1, 2026 | Camacho Rodolfo M. Chief People Officer | Tax withheld | 13,255 | $326.2K |
| Mar 1, 2026 | Willis Angel S EVP, GC & Corp Affrs Ofcr | Award | 4,127 | $101.6K |
| Mar 1, 2026 | Maciel Andre EVP & Global CFO | Award | 20,621 | $0 |
| Mar 1, 2026 | Willis Angel S EVP, GC & Corp Affrs Ofcr | Award | 13,755 | $0 |
| Mar 1, 2026 | Willis Angel S EVP, GC & Corp Affrs Ofcr | Award | 32,914 | $0 |
| Mar 1, 2026 | Camacho Rodolfo M. Chief People Officer | Award | 40,940 | $0 |
| Mar 1, 2026 | Frost Diana Glbl Chief Growth Officer | Award | 40,361 | $0 |
| Mar 1, 2026 | Torres Flavio EVP & Global Chf Sply Chn Ofcr | Tax withheld | 25,026 | $615.9K |
| Mar 1, 2026 | Asher Chris VP, Global Controller (PAO) | Award | 4,371 | $0 |
| Mar 1, 2026 | Asher Chris VP, Global Controller (PAO) | Award | 4,954 | $0 |
| Mar 1, 2026 | Torres Flavio EVP & Global Chf Sply Chn Ofcr | Award | 22,082 | $0 |
| Mar 1, 2026 | Torres Flavio EVP & Global Chf Sply Chn Ofcr | Award | 10,909 | $0 |
| Mar 1, 2026 | Asher Chris VP, Global Controller (PAO) | Award | 9,144 | $0 |
| Mar 1, 2026 | Onell Cory Chief Omnich Sales & AEM Ofcr | Tax withheld 10b5-1 plan | 19,696 | $484.7K |
| Mar 1, 2026 | AMAYA NICOLAS EVP & President, North America | Award | 48,254 | $0 |
| Mar 1, 2026 | Onell Cory Chief Omnich Sales & AEM Ofcr | Award 10b5-1 plan | 20,869 | $0 |
| Mar 1, 2026 | Asher Chris VP, Global Controller (PAO) | Award | 1,982 | $48.8K |
| Mar 1, 2026 | Onell Cory Chief Omnich Sales & AEM Ofcr | Award 10b5-1 plan | 32,000 | $0 |
| Mar 1, 2026 | Asher Chris VP, Global Controller (PAO) | Tax withheld | 3,343 | $82.3K |
| Mar 1, 2026 | Frost Diana Glbl Chief Growth Officer | Tax withheld | 10,668 | $262.5K |
| Mar 1, 2026 | Camacho Rodolfo M. Chief People Officer | Award | 8,725 | $0 |
| Mar 1, 2026 | Camacho Rodolfo M. Chief People Officer | Award | 2,618 | $64.4K |
| Mar 1, 2026 | Camacho Rodolfo M. Chief People Officer | Award | 18,465 | $0 |
| Mar 1, 2026 | Frost Diana Glbl Chief Growth Officer | Award | 13,194 | $0 |
| Mar 1, 2026 | Patricio Miguel Director | Tax withheld | 59,528 | $1.46M |
| Mar 1, 2026 | Patricio Miguel Director | Award | 56,029 | $0 |
| Mar 1, 2026 | CAHILLANE STEVEN A Chief Executive Officer | Award | 182,853 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
Your own record
Start an Inve Case for Kraft Heinz Co
Free account. Everything above stays public.
Write why you follow Kraft Heinz Co and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
Keep reading
Other companies in Consumer Staples
Nearest to Kraft Heinz by market cap among the sector's top 20 companies at Q2 2026.