financetom
Business
financetom
/
Business
/
Kraft Heinz misses quarterly revenue estimates on waning demand
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Kraft Heinz misses quarterly revenue estimates on waning demand
Nov 3, 2024 2:51 PM

Oct 30 (Reuters) - Kraft Heinz ( KHC ) on Wednesday

posted a steeper-than-expected fall in quarterly revenue as

demand stayed weak for its branded meal kits and snacks with

consumers trading down to cheaper, private-label alternatives.

The packaged food giant's net sales fell 2.8% to $6.38

billion, compared with analysts' estimates of $6.42 billion,

according to data compiled by LSEG.

(Reporting by Savyata Mishra in Bengaluru; Editing by Devika

Syamnath)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Market Chatter: Citigroup Cuts at Least 10 Jobs in Asia-Pacific
Market Chatter: Citigroup Cuts at Least 10 Jobs in Asia-Pacific
Mar 27, 2024
09:19 AM EDT, 03/27/2024 (MT Newswires) -- Citigroup ( C ) has laid off at least 10 employees this week in equities research in the Asia-Pacific region, Reuters reported Wednesday, citing two unnamed sources familiar with the situation. The bank notified the impacted employees earlier this week, the report said, citing the sources. One source told Reuters that the US...
Why Is REE Automotive Stock Trading Lower Today?
Why Is REE Automotive Stock Trading Lower Today?
Mar 27, 2024
REE Automotive Ltd ( REE ) reported fourth-quarter FY23 sales growth of 116% Q/Q to $455,000, missing the analyst consensus estimate of $1.35 million. Operating expenses for the quarter expanded to $36.7 million from $27.8 million a year ago. Non-GAAP EPS loss of $(3.15), missed the consensus of $(2.38). The operating loss for the quarter was $(37.2) million versus a loss of $(27.8)...
MediPharm Labs Narrows Q4 Loss, Revenue Grows
MediPharm Labs Narrows Q4 Loss, Revenue Grows
Mar 27, 2024
09:17 AM EDT, 03/27/2024 (MT Newswires) -- MediPharm Labs Corp. ( MEDIF ) , a pharmaceutical company specializing in precision-based cannabinoids, on Wednesday reported a fourth-quarter net loss of $3 million, or $0.01 per share, narrower than a loss of $5.6 million, or $0.02 per share, a year earlier. Net revenue for the quarter ended Dec. 31, 2023, was $9.1...
Cruise operator Carnival lifts 2024 profit view on record demand
Cruise operator Carnival lifts 2024 profit view on record demand
Mar 27, 2024
March 27 (Reuters) - Carnival Corp ( CCL ) raised its annual profit forecast on Wednesday, betting on record demand for cruise vacations as well as higher prices. The cruise operator now expects adjusted profit per share of 98 cents in 2024, compared with its prior forecast of 93 cents. Analysts on average were expecting a profit of $1 per...
Copyright 2023-2026 - www.financetom.com All Rights Reserved