Analyst Consensus ?
ConsensusHold35 ratings
Bullish411.4%
Neutral2057.2%
Bearish1131.4%
The Kraft Heinz Company · KHC · FY2025 Q2 · Calendar Q3 2025
Kraft Heinz Maintains Outlook as Emerging Markets and Innovation Lead
The supplied analysis supports a cautiously constructive operating view: emerging-market growth, targeted marketing and innovation provide support, but modest pricing and ongoing cost pressures leave margin execution important. The large non-cash impairment also keeps investor perception as a key risk.
Reported Before market openNYSEConsumer Defensive
$26.12B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.69
Consensus $0.64
EPS surprise
+8.3%
Reported versus consensus
Reported revenue
$6.35B
Consensus $6.27B
Revenue surprise
+1.3%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-0.2%
Event window
SPY move
-0.1%
Same window
Abnormal move
-0.1%
Stock minus SPY
Volume
1.0×
Versus trailing sessions
Subsequent drift
-2.1%
Up to 20 sessions
KHCSPY benchmark
Ask FN2 about KHC FY2025 Q2
Transcript, numbers and history already loaded
Why did KHC fall 0.2% after beating EPS estimates in FY2025 Q2?What changed in KHC's guidance and outlook in FY2025 Q2?Give me the bull and bear case for KHC after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current analysis describes an in-line quarter and a maintained outlook, while adding emphasis on the non-cash impairment, modest pricing, emerging-market growth, innovation and ongoing strategic-transaction evaluation.
Guidance delta
Management maintained its full-year outlook despite inflation, tariff and commodity-cost pressures.
Key takeaways
- Q2 performance met expectations, with emerging markets providing the clearest growth contribution.
- Management said the $9.3 billion impairment was non-cash and reflected an intangible-asset write-down, not operational weakness.
- Pricing increases remained modest while marketing investment was planned to reach 4.8% of net sales by year-end.
- The Brand Growth System, product innovation and e-commerce remain central to the growth plan.
Management priorities
- Scale the Brand Growth System to about 40% of the business by year-end.
- Invest in product innovation, e-commerce capabilities and marketing.
- Evaluate strategic transactions while maintaining disciplined investment testing and capex.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$22.03Previous close
$18Low
$31.41Average
$70High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 7, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Oct 5, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Sep 24, 2026 |
| TD Cowen | Hold | Hold | Maintain | Sep 22, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Sep 14, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 7, 2026 |
| UBS | Neutral | Neutral | Maintain | Aug 6, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Aug 6, 2026 |
| JP Morgan | Underweight | Underweight | Maintain | Jul 15, 2026 |
| Bernstein | Underperform | Market Perform | Downgrade | Jun 3, 2026 |
| BNP Paribas | Underperform | Underperform | Maintain | Apr 9, 2026 |
| Deutsche Bank | Hold | Hold | Maintain | Mar 30, 2026 |
| Jefferies | Hold | Hold | Maintain | Jan 21, 2026 |
| Morgan Stanley | Underweight | Equal Weight | Downgrade | Jan 16, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Oct 28, 2025 |
| Stifel | Hold | Hold | Maintain | Sep 3, 2025 |
| Argus Research | Hold | Hold | Maintain | Aug 14, 2025 |
| Goldman Sachs | Neutral | Sell | Upgrade | Jun 25, 2025 |
| Citigroup | Sell | Neutral | Downgrade | Apr 4, 2025 |
| B of A Securities | Underperform | Buy | Downgrade | Feb 13, 2025 |
| Credit Suisse | Underperform | Underperform | Maintain | Feb 16, 2023 |
| Exane BNP Paribas | Neutral | Neutral | Maintain | Nov 15, 2022 |
| BMO Capital | Outperform | Market Perform | Upgrade | Jun 22, 2022 |
| Guggenheim | Neutral | Buy | Downgrade | Dec 8, 2021 |
| DZ Bank | Hold | Buy | Downgrade | May 5, 2021 |
| CFRA | Hold | Hold | Maintain | Feb 13, 2020 |
| Bank of America | Neutral | Neutral | Maintain | Aug 9, 2019 |
| Piper Jaffray | Neutral | Underweight | Upgrade | May 31, 2019 |
| PiperJaffray | Underweight | Neutral | Downgrade | Apr 24, 2019 |
| Wolfe Research | Underperform | Peer Perform | Downgrade | Mar 29, 2019 |
| Argus | Hold | Buy | Downgrade | Feb 26, 2019 |
| Stifel Nicolaus | Hold | Buy | Downgrade | Feb 22, 2019 |
| Standpoint Research | Buy | Buy | Maintain | Dec 26, 2018 |
| Susquehanna | Negative | Neutral | Downgrade | Nov 2, 2018 |
| Societe Generale | Sell | Sell | Maintain | Mar 15, 2018 |
| Berenberg | Buy | Buy | Maintain | Jun 7, 2017 |
Named analyst price targets
Upside is calculated against the persisted previous close $22.03. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| RBC Capital | Nik Modi | $32 | $24.73 | +45.3% | Sep 17, 2026 |
| Barclays | Analyst unavailable | $26 | $24.96 | +18.0% | Aug 7, 2026 |
| Evercore ISI | David Palmer | $24 | $24.82 | +8.9% | Aug 6, 2026 |
| Evercore ISI | David Palmer | $23 | $25.74 | +4.4% | Jul 23, 2026 |
| Wells Fargo | Chris Carey | $25 | $25.3 | +13.5% | Jul 8, 2026 |
| Piper Sandler | Michael Lavery | $24 | $22.94 | +8.9% | Jun 25, 2026 |
| Bernstein | Alexia Howard | $21 | $23.33 | -4.7% | Jun 3, 2026 |
| Deutsche Bank | Analyst unavailable | $22 | $23.28 | -0.1% | May 7, 2026 |
| Piper Sandler | Analyst unavailable | $23 | $23.07 | +4.4% | May 7, 2026 |
| Morgan Stanley | Analyst unavailable | $22 | $21.89 | -0.1% | Apr 23, 2026 |
| BNP Paribas | Analyst unavailable | $18 | $23.27 | -18.3% | Apr 9, 2026 |
| Mizuho Securities | Analyst unavailable | $25 | $24.4 | +13.5% | Feb 23, 2026 |
| Morgan Stanley | Megan Alexander Clapp | $23 | $24.39 | +4.4% | Feb 17, 2026 |
| Barclays | Analyst unavailable | $25 | $24.32 | +13.5% | Feb 13, 2026 |
| Goldman Sachs | Analyst unavailable | $23 | $24.72 | +4.4% | Feb 12, 2026 |
| Jefferies | Scott Marks | $23 | $23.76 | +4.4% | Jan 20, 2026 |
| Morgan Stanley | Megan Clapp | $24 | $24.24 | +8.9% | Jan 16, 2026 |
| UBS | Peter Grom | $24 | $24.02 | +8.9% | Jan 14, 2026 |
| Piper Sandler | Analyst unavailable | $27 | $24.45 | +22.6% | Dec 15, 2025 |
| Barclays | Analyst unavailable | $24 | $24.58 | +8.9% | Oct 31, 2025 |
| UBS | Peter Grom | $25 | $24.6 | +13.5% | Oct 30, 2025 |
| Coker Palmer | Thomas Palmer | $25 | $24.38 | +13.5% | Oct 30, 2025 |
| Piper Sandler | Michael Lavery | $25 | $24.38 | +13.5% | Oct 30, 2025 |
| Mizuho Securities | John Baumgartner | $27 | $25.42 | +22.6% | Oct 28, 2025 |
| Morgan Stanley | Analyst unavailable | $28 | $25.14 | +27.1% | Oct 16, 2025 |
| UBS | Analyst unavailable | $27 | $25.06 | +22.6% | Oct 8, 2025 |
| UBS | Peter Grom | $28 | $26.93 | +27.1% | Sep 4, 2025 |
| Stifel Nicolaus | Matthew Smith | $28 | $26.5 | +27.1% | Sep 3, 2025 |
| Morgan Stanley | Analyst unavailable | $29 | $26.02 | +31.6% | Sep 3, 2025 |
| Mizuho Securities | John Baumgartner | $29 | $26.54 | +31.6% | May 28, 2025 |
| Piper Sandler | Michael Lavery | $35 | $35.27 | +58.9% | Nov 19, 2024 |
| Mizuho Securities | John Baumgartner | $41 | $33.89 | +86.1% | Oct 31, 2024 |
| Deutsche Bank | Steve Powers | $35 | $33.73 | +58.9% | Oct 31, 2024 |
| Goldman Sachs | Leah Jordan | $32 | $33.73 | +45.3% | Oct 30, 2024 |
| Piper Sandler | Michael Lavery | $41 | $34.06 | +86.1% | Oct 3, 2024 |
| Deutsche Bank | Stephen Powers | $40 | $35.24 | +81.6% | Aug 1, 2024 |
| Barclays | Andrew Lazar | $34 | $33.77 | +54.3% | Jul 19, 2024 |
| Wells Fargo | Chris Carey | $34 | $32.32 | +54.3% | Jun 27, 2024 |
| Piper Sandler | Michael Lavery | $42 | $35.92 | +90.6% | May 22, 2024 |
| Bernstein | Alexia Howard | $40 | $33.24 | +81.6% | Nov 14, 2023 |
| Stifel Nicolaus | Matthew Smith | $44 | $39.34 | +99.7% | Apr 24, 2023 |
| Morgan Stanley | Dara Mohsenian | $70 | $38.19 | +217.7% | Mar 22, 2023 |
| Wells Fargo | Analyst unavailable | $43 | $40.38 | +95.2% | Jan 3, 2023 |
| Morgan Stanley | Pamela Kaufman | $41 | $40.11 | +86.1% | Dec 20, 2022 |
| Deutsche Bank | Analyst unavailable | $49 | $39.48 | +122.4% | Dec 6, 2022 |
| BNP Paribas | Analyst unavailable | $39 | $37.16 | +77.0% | Nov 15, 2022 |
| Morgan Stanley | Pamela Kaufman | $37 | $35.78 | +68.0% | Oct 14, 2022 |
| Goldman Sachs | Jason English | $43 | $33.03 | +95.2% | Oct 9, 2022 |
| Credit Suisse | Analyst unavailable | $36 | $36.6 | +63.4% | Jul 28, 2022 |
| Stifel Nicolaus | Christopher Growe | $43 | $36.34 | +95.2% | Jul 28, 2022 |
| Mizuho Securities | John Baumgartner | $48 | $38.43 | +117.9% | Jul 18, 2022 |
| BMO Capital | Kenneth Zaslow | $46 | $43.61 | +108.8% | Apr 29, 2022 |
| Stifel Nicolaus | Christopher Growe | $45 | $42.88 | +104.3% | Apr 28, 2022 |
| Morgan Stanley | Pamela Kaufman | $38 | $37.68 | +72.5% | Mar 16, 2022 |
| Stifel Nicolaus | Christopher Growe | $41 | $39.73 | +86.1% | Feb 27, 2022 |
| Piper Sandler | Michael Lavery | $40 | $37.39 | +81.6% | Feb 17, 2022 |
| Guggenheim | Laurent Grandet | $35 | $36.24 | +58.9% | Feb 16, 2022 |
| Jefferies | Robert Dickerson | $40 | $36.24 | +81.6% | Feb 16, 2022 |
| Barclays | Andrew Lazar | $41 | $35.74 | +86.1% | Aug 5, 2021 |
| DZ BANK AG | Axel Herlinghaus | $44 | $40.72 | +99.7% | May 5, 2021 |
| Evercore ISI | David Palmer | $42 | $39.59 | +90.6% | Apr 30, 2021 |
Track every rating change on KHC the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationThe Kraft Heinz Company, along with its subsidiaries, operates as a global entity focused on the manufacturing and marketing of a broad spectrum of food and beverage products. Its reach extends across key markets such as the United States, Canada, and the United Kingdom, as well as numerous other international territories. The company's diverse product offerings include popular condiments and sauces, a variety of cheese and dairy items, prepared meals, meat products, and refreshing beverages. Additionally, its portfolio features coffee, an assortment of healthy snacks, salad dressings, various spices and seasonings, and a range of other general grocery staples. Kraft Heinz employs a multi-faceted distribution strategy.…
Historical context
All KHC earningsConsumer Defensive peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| LW Lamb Weston Holdings, Inc. | FY2027 Q1 · Calendar Q4 2026 | +27.8% | +7.5% | Lamb Weston raises FY2027 outlook as North America volume growth continues |
| MKC McCormick & Company, Incorporated | FY2026 Q3 · Calendar Q4 2026 | +13.9% | -4.9% | McCormick reports strong Q3 growth while U.S. volumes remain soft |
| CAG Conagra Brands, Inc. | FY2027 Q1 · Calendar Q3 2026 | +44.4% | -4.9% | Conagra maintains outlook while increasing brand investment and simplifying SKUs |
| COST Costco Wholesale Corporation | FY2026 Q4 · Calendar Q3 2026 | +3.2% | +2.9% | Costco’s growth broadens as warehouses and digital sales accelerate |
| GIS General Mills, Inc. | FY2027 Q1 · Calendar Q3 2026 | +4.6% | +1.0% | General Mills leans on mix, innovation and e-commerce amid pressure |
| KR The Kroger Co. | FY2026 Q2 · Calendar Q3 2026 | +2.8% | +2.7% | Kroger: Strong digital growth offsets softer sales outlook |
Latest beats and misses
Who reports nextBeat on EPS
- LWFY2027 Q1 · October 6, 2026+27.8% EPS+7.5% move
- RPMFY2027 Q1 · October 6, 2026+1.5% EPS+3.2% move
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
Get the KHC recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-10-07T09:10:45.095961+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-07T09:10:45.092777+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-07. For educational purposes only; not investment advice.