The Kraft Heinz Company · NASDAQ:KHC

The Kraft Heinz — Q1 2026 Earnings Presentation

23 slides from The Kraft Heinz's earnings presentation, May 6, 2026

  1. Slide 1: Business Update

    Q1 2026 May 6, 2026 BUSINESS UPDATE TO ACCOMPANY MANAGEMENT COMMENTARY May 6, 2026

  2. Slide 2: Forward-Looking Statements

    FORWARD-LOOKING STATEMENTS MAY 6, 2026 This presentation contains a number of forward-looking statements as defined under U.S. federal securities laws, including, but not limited to, statements, estimates, and projections relating to our business and long-term strategy; our ambitions, goals, targets

  3. Slide 3: Steve Cahillane, Chief Executive Officer

    Steve Cahillane Chief Executive Officer

  4. Slide 4: Delivered Q1 Results Ahead of Expectations

    Q1 2026 Business Update Delivered Q1 Results Ahead of Expectations Total Constant Currency Adjusted Gross Organic Net Sales1 Adj. Operating Adjusted EPS1 Free Cash Flow1 Kraft Heinz Profit Margin1 Income1 Q1 ‘26 $5.9B 34.1% $1.0B $0.58 $0.8B vs PY (0.4%) (30bps) (12.5%) (6.5%) +59% 1| Non-GAAP finan

  5. Slide 5: Initial Investments are Driving Early Market Share Traction

    Q1 2026 Business Update Initial Investments are Driving Early Market Share Traction % of Total Kraft Heinz Revenue % of WIN BIG Revenue Gaining or Holding Share Gaining or Holding Share 58% 59% 51% 35% 28% 21% FY25 Q1 '26 Mar-26 FY25 Q1 '26 Mar-26 Weighted Avg (0.59pp) (0.29pp) (0.19pp) (0.33pp) (0.

  6. Slide 6: Driven by Improving Performance in U.S. Taste Elevation

    Q1 2026 Business Update Driven by Improving Performance in U.S. Taste Elevation % of US Taste Elevation Revenue Gaining or Holding Share Cream Cheese Mustard 87% 81% Steak Sauce Ketchup 24% FY25 Q1 '26 Mar-26 Weighted Avg (0.46pp) (0.04pp) 0.13pp Share Chg. 1| U.S. Retail dollar share based on IRI c

  7. Slide 7: Overall Improvement in U.S. Share, With More Work Ahead

    Q1 2026 Business Update Overall Improvement in U.S. Share, With More Work Ahead % of Total US Retail Revenue Gaining or Holding Share Improvements in Taste Elevation, Hydration, and Desserts… 54% 29% …With Continued Pressure in 12% Meats and Meals FY25 Q1 '26 Mar-26 Weighted Avg (0.68pp) (0.34pp) (0

  8. Slide 8: 2026 Operating Plan Builds on Early Momentum

    Q1 2026 Business Update 2026 Operating Plan Builds on Early Momentum Our goal is to drive volume-led, sustainable and profitable top line growth, while continuing to generate attractive cash flow. Turn Around U.S. Business Grow Internationally Simplified Led by our HEINZ brand and white +$600M Opera

  9. Slide 9: We are Delivering Value by Providing Affordable Options

    Q1 2026 Business Update We are Delivering Value by Providing Affordable Options Investments in Price • Improve ROI of promotional spend • Relentless focus on opening price points • Selective base price adjustments on case-by-case basis 9

  10. Slide 10: And Increasing Investments Across Commercial Levers

    Q1 2026 Business Update And Increasing Investments Across Commercial Levers People Marketing R&D Increase investments in Increase marketing spend Increase R&D spend to ~0.9% teams and capabilities to at least 5.5% of net of net sales, supporting across the organization sales, with focus on returns p

  11. Slide 11: While Providing Value Through Consumer-led Innovation

    Q1 2026 Business Update While Providing Value Through Consumer-led Innovation Kraft Mac & Cheese PowerMac Capri Sun Hydrate Philadelphia Lactose Free Providing Superior Nutrition Providing a Flavorful Hydration Providing the Same Signature Without Sacrificing Taste Option with Functional Benefits Cr

  12. Slide 12: We are Prioritizing Investments Across our Portfolio

    Q1 2026 Business Update We are Prioritizing Investments Across our Portfolio HOLD WIN WIN BIG Stabilize to Defend Share Invest Selectively Distort Investment ~25% of Net Sales ~20% of Net Sales ~55% of Net Sales • Neutral Growth Outlook • Attractive Growth, • High Growth, Margin Margin and Share and

  13. Slide 13: U.S. Operating Model Simplification to Drive Successful Execution

    Q1 2026 Business Update U.S. Operating Model Simplification to Drive Successful Execution 1 New North America leader, Nico Amaya 2 Incentive structure that better focuses and empowers teams to be more flexible 3 Rewiring core processes and management routines, enabled by increased bandwidth in the B

  14. Slide 14: Building on Continued Momentum in Emerging Markets

    Q1 2026 Business Update Building on Continued Momentum in Emerging Markets Leveraging the power Expanding Distribution through Go of Heinz To Market Model Heinz Organic Net Sales1,2 Accelerate Growth Through +25% in Emerging Markets Heinz-led Innovation Total Distribution Points3 Q1 2026 vs PY Appro

  15. Slide 15: There is Significant Growth Opportunity in Away From Home

    Q1 2026 Business Update There is Significant Growth Opportunity in Away From Home Global Away From Home Organic Net Sales1,2 FY25 Q4 '25 Q1 '26 Grow Beyond Ketchup Expand in High- (0.6%) Growth Channels Stadiums Hotels (0.9%) Increase QSR Penetration (1.5%) 1| Non-GAAP financial measure. See the acc

  16. Slide 16: Andre Maciel, Global Chief Financial Officer

    Andre Maciel Global Chief Financial Officer

  17. Slide 17: Growth in Emerging Markets offset by U.S. Performance

    Q1 2026 Business Update Growth in Emerging Markets offset by U.S. Performance Organic Net Q1 26 vs Q1 25 Sales 1 Price Volume / Mix Total (0.4%) 0.8pp (1.2pp) Kraft Heinz North (1.1%) 0.4pp (1.5pp) Performance driven by decline in the U.S., partially offset by America growth in Canada. Results inclu

  18. Slide 18: Adj. Operating Income Decline Primarily Driven by Investments

    Q1 2026 Business Update Adj. Operating Income Decline Primarily Driven by Investments Adjusted Constant Currency Adjusted Operating Adj. Operating Operating Income Q1 26 vs Q1 25 Income 1 Currency Income 1 Margin1 Total (11.8%) 0.7pp (12.5%) 17.5% Kraft Heinz (2.5pp) vs PY North (11.6%) 0.3pp (11.9%

  19. Slide 19: Efficiencies Helping to Mitigate Inflationary Pressures

    Q1 2026 Business Update Efficiencies Helping to Mitigate Inflationary Pressures Adjusted Gross Profit Margin1 Gross Efficiencies 6% (% COGS) 5% 34.4% 34.1% 4% 5-Year 3% Goal 2% 1% 0% Q1 '25 Q1 '26 FY26 Estimate Q1 '26 Q1 2026 vs PY + Continued strong productivity generation • Q1 gross efficiencies ~

  20. Slide 20: Strong Free Cash Flow Generation

    Q1 2026 Business Update Strong Free Cash Flow Generation Adjusted EPS1 Free Cash Flow1 and Free Cash Flow Conversion1 $0.62 +46pp 111% $0.58 $0.8B 65% $0.5B Q1 '25 Q1 '26 Q1' 25 Q1' 26 Q1 2026 vs PY Free Cash Flow1 driven by favorable changes in Results of Operations: ($0.09) working capital across

  21. Slide 21: Disciplined Capital Allocation with Commitment to Dividend

    Q1 2026 Business Update Disciplined Capital Allocation with Commitment to Dividend Sustain Attractive Dividend Maintain Investment Grade 1 Invest in Organic Growth 2 Maintain Net Leverage1 Ratio of ~3.0X 3 Actively Manage Portfolio 4 Return Excess Capital to Stockholders +$600M 3.0x Divest $475M Inv

  22. Slide 22: Reiterating 2026 Outlook

    Q1 2026 Business Update Reiterating 2026 Outlook 2026 FY Outlook 2026 FY Considerations • Impact from currency at current FX rates: 30bps Organic Net Sales1 (3.5%) to (1.5%) • Slightly positive contribution from price SNAP Impact: (100bps) • Adjusted Gross Profit Margin1: (75bps) to (25bps) Constant

  23. Slide 23: Key Takeaways

    KEY TAKEAWAYS • We are seeing early traction in business momentum. • Our 2026 operating plan, which includes incremental investments, a simplified operating model, and continued expansion in international markets will build on this momentum. • Despite Q1 outperformance, we are reaffirming our curren

The Kraft Heinz Company — Q1 2026 Earnings Presentation on 6ix