07:59 AM EDT, 05/01/2024 (MT Newswires) -- Kraft Heinz ( KHC ) reported Q1 adjusted earnings Wednesday of $0.69 per diluted share, up from $0.68 a year earlier.

Analysts polled by Capital IQ expected $0.69.

Net sales for the quarter that ended March 30 were $6.41 billion, down from $6.49 billion a year earlier.

Analysts surveyed by Capital IQ expected $6.43 billion.

For fiscal year 2024, the food and condiments company said it continues to expect adjusted earnings of $3.01 to $3.07 per share. Analysts polled by Capital IQ expect $3.04.

Shares of the company were down almost 4% in recent Wednesday premarket activity.

Price: 37.10, Change: -1.51, Percent Change: -3.91