The Kraft Heinz Company reported fourth-quarter 2024 net sales of $6.58 billion, a 4.1% decrease from the prior year, with organic net sales declining by 3.1%. For the full year 2024, net sales were $25.85 billion, down 3.0%, and organic net sales decreased by 2.1%.
Q4 2024 diluted EPS was $1.76, up 188.5%, while Adjusted EPS was $0.84, up 7.7%. Full year 2024 diluted EPS was $2.26, down 2.2%, and Adjusted EPS was $3.06, up 2.7%. Operating income for Q4 was a loss of $40 million, down 103.1%, primarily due to non-cash impairment losses.
For fiscal year 2025, Kraft Heinz forecasts annual profit below estimates, as the company anticipates continued sluggish demand for higher-priced products like Lunchables and packaged meat. CEO Carlos Abrams-Rivera acknowledged 2024 was challenging, with top-line results below expectations, but emphasized discipline in protecting profitability and generating strong cash flow.
Management expects to make necessary investments to drive top-line improvement in 2025, focusing on strategic pillars, product innovation, the Brand Growth System, Away From Home client wins, and increased distribution in Emerging Markets. The company returned $2.7 billion in capital to stockholders in 2024.
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