US Stock Movement | Kraft Heinz drops 6.8% pre-market as this year's earnings guidance falls short of expectations and spin-off plan is suspended

Glonghui, February 11｜Kraft Heinz (KHC.US) fell 6.8% pre-market to $23.2. In terms of news, Kraft Heinz’s revenue in the fourth quarter of last year fell 3.4% year-on-year to $6.35 billion, slightly below analysts’ expectations of $6.38 billion; adjusted earnings per share were $0.67, exceeding analysts’ expectations of $0.61. Organic sales declined by 4.2%, more than the analysts’ expected drop of 3.72%. Looking ahead to 2026, the company expects adjusted earnings per share to be between $1.98 and $2.1, well below analysts’ expectations of $2.49. In addition, the company announced a major strategic shift, suspending work related to the previously announced business spin-off plan. Steve Cahillane, the newly appointed CEO, stated that the company will instead focus on restoring profit growth. (Glonghui)