Aug 5 (Reuters) – Kraft Heinz raised its annual forecasts after beating quarterly sales estimates on Wednesday, betting on CEO Steve Cahillane’s turnaround efforts — including increased investments to revive businesses and gain market share — to improve its performance.
The better-than-expected results give further credence to Cahillane’s turnaround strategy, which has resulted in an uptick in marketing and innovation spends as the company leans aggressively into protein-heavy foods and electrolyte-infused drinks to attract consumers searching for healthier food options.
The packaged goods company said it would increase its incremental investments by $100 million to approximately $700 million in 2026.
It now expects annual organic sales to fall in the range of 0.5% to 2.0%, compared with its prior view 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 prior forecast of $1.98 to $2.10.
(Reporting by Anuja Bharat Mistry in Bengaluru and Alexander Marrow in London; Editing by Jonathan Ananda)
