Kraft Heinz Co Q3 FY2024 earnings call

• Carlos Abrams-Rivera recognized the Kraft Heinz team's dedication and stated focus on executing strategic pillars: driving profitable growth and generating strong cash flow. Global Away From Home and Emerging Markets are growing, with efforts to address U.S. Retail improvements.
• Emphasized disciplined management, long-term perspective, and confidence in strategy, talent, and competitive advantage culture.
• Andre Maciel noted Kraft Heinz doesn't expect to reach on-algorithm pace in 2025, with U.S. Retail facing pressure due to trade down and certain categories like Capri Sun taking time to recover.
• Carlos Abrams-Rivera highlighted consistent productivity levels, growth in Away From Home and Emerging Markets, and focus on addressing U.S. Retail challenges through strategy, innovation, and marketing.

No specific financial performance for product segments in absolute terms and revenue contribution % provided in the transcript.

• Kraft Heinz does not expect to reach on-algorithm pace in 2025.
• Away From Home Globally and Emerging Markets are expected to continue improving and growing.
• U.S. Retail faces pressure from continued trade down, with focus on specific categories that take longer to recover.

• Uncertain consumer environment leading to trade down, impacting share.
• Specific challenges in U.S. Retail categories like Lunchables, Spoonables, and supplier ingredient issues affecting short-term performance.

Q: Andrew Lazar asked about the delay in reaching on-algorithm pace and U.S. Retail recovery.

A: Carlos and Andre discussed industry dynamics, U.S. Retail pressure, and focus on strategy, innovation, and execution.

Q: Ken Goldman asked about Lunchables charge and turnaround efforts.

A: Carlos discussed investments in innovation, marketing, and brand growth system for Lunchables.

Q: Peter Galbo asked about ingredient supplier issue in Lunchables and Spoonables.

A: Carlos and Andre explained supplier issue impact on Lunchables and Spoonables facing soft sell-out due to price gaps.

Q: Tom Palmer asked about price adjustments vs innovation in 2025.

A: Carlos discussed focus on innovation, marketing, and distribution, with intentional promotion to drive base growth.

Q: David Palmer asked about promotion spending and innovation.

A: Carlos discussed focus on marketing, innovation, and brand growth system, with investments in R&D and technology.

Q: Robert Moskow asked about Mac & Cheese challenges.

A: Carlos discussed Mac & Cheese innovations and need for patience in recovery.

Q: Chris Carey asked about underlying business excluding certain brands.

A: Carlos discussed focus on Global Away From Home, Emerging Markets, and U.S. Retail specific brands showing improvements.