Kraft Heinz falls after halting plans to split, dour annual forecasts

Kraft Heinz Co

11/02/2026 12:26

** Shares of packaged food maker Kraft Heinz KHC.O down ~7% at $23.20 premarket

** Co pauses work related to splitting into two companies, which was announced last year

** KHC forecasts annual sales, profit below estimates

** Expects fiscal 2026 organic sales to be down 1.5% to 3.5%, compared with analysts' estimates of a 0.17% rise, as per data compiled by LSEG

** Sees full-year adjusted profit in the range of $1.98 to $2.10 per share vs estimates of $2.49 per share

** Co also announces a $600 million investment across marketing, sales, and R&D as well as product superiority and select pricing

** Co reports fourth-quarter sales of $6.35 billion vs estimates of $6.38 billion

** Stock fell about 21% in 2025

 (Reporting by Anuja Bharat Mistry in Bengaluru)

 ((AnujaBharat.Mistry@thomsonreuters.com))