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The packaged-food company now expects organic sales to fall 0.5% to 2.0% for the year, an improvement from its prior outlook
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Kraft Heinz $KHC raised its annual forecasts on Wednesday after quarterly sales topped analysts' estimates, a result that CEO Steve Cahillane credited to his turnaround plan's emphasis on heavier marketing and innovation outlays.
The company now expects organic sales to decline between 0.5% and 2.0% for the full year, an improvement from its prior outlook of a 1.5% to 3.5% decline. It also expects annual adjusted earnings per share of $2.03 to $2.09, compared with its earlier forecast of $1.98 to $2.10. Kraft Heinz said it would increase its incremental investments by $100 million to approximately $700 million in 2026.
