The Kraft Heinz Company (KHC) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings and welcome to the Kraft Heinz Company fourth quarter 2025 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce Anne-Marie Magella, Vice President of Investor Relations. Please go ahead. Thank you, and thank you everyone for joining us today. During today's call, we may make forward-looking statements regarding our expectations for the future. These statements are based on how we see things today, and the actual results may differ materially due to risk and uncertainties. Please see the cautionary statements and risk factors contained in today's earnings release and our most recent SEC filings for more information regarding these risks and uncertainties. Additionally, we may refer to non-GAAP financial measures. Please refer to today's earnings release and the non-GAAP information available on our website for a discussion of our non-GAAP financial measures and reconciliations to the comparable GAAP financial measures. Joining me today to answer your questions is our Chief Executive Officer, Steve Kehling, and our Chief Financial Officer, Andre Maciel. Operator, please open the call for the first question. Our first question is from Andrew Lazar with Barclays. Great. Thanks so much. Good morning, everybody, and welcome back, Steve. Thanks, Andrew. Maybe to start off, Steve, in the prepared remarks, you mentioned a bunch of times how Kraft Heinz is sort of underinvested in its brands, and the incremental $600 million is an effort to sort of correct that. I guess, how much of this is simply the com...