ADDING MULTIMEDIA: Kraft Heinz Outlines Path to Sustainable, Profitable Growth at 2026 Investor Day

PITTSBURGH & CHICAGO--(BUSINESS WIRE)--Nov 12, 2026--

Kraft Heinz (NYSE: KHC) (“Kraft Heinz” or the “Company”) is hosting its 2026 Investor Day today, where senior management will outline the Company’s strategy to deliver sustainable, volume-led profitable growth. Management will also share its financial milestones through 2029, along with initial expectations for 2027.

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“The opportunity ahead of us is significant, and we have the brands, scale and capabilities to capture it,” said Steve Cahillane, Chief Executive Officer of Kraft Heinz. “With the right team, a business-unit-led operating model, and greater, consistent investment behind our brands, we are positioning Kraft Heinz to create long-term value for shareholders.”

Strategy to Deliver Growth

Kraft Heinz’s strategy is designed to leverage its competitive advantages, from modernizing its core in developed markets to capturing opportunities in Emerging Markets and Away From Home. The Company will execute its strategy by:

Milestones Through 2029

Kraft Heinz outlined the financial milestones it expects to achieve on its path to sustainable, volume-led profitable growth:

Initial 2027 Outlook

The Company will provide formal 2027 guidance on its fourth quarter earnings call. Today, management will share the initial contours of its expectations.

Further details can be found in the webcasted presentation and the supplemental materials provided for the 2026 Investor Day at https://ir.kraftheinzcompany.com/news-events/events. Interested parties can watch the live video webcast and Q&A with senior management today starting at 10:30 a.m. ET or view a replay of the event at the above link.

END NOTES

(1) Organic Net Sales, Adjusted Operating Income, and Free Cash Flow Conversion are non-GAAP financial measures. Please see discussion of non-GAAP financial measures and the reconciliations at the end of this press release for more information.

(2) Guidance for Organic Net Sales, Adjusted Operating Income, and Free Cash Flow Conversion is provided on a non-GAAP basis only because certain information necessary to calculate the most comparable GAAP measure is unavailable due to the uncertainty and inherent difficulty of predicting the occurrence and the future financial statement impact of such items impacting comparability, including, but not limited to, the impact of currency, acquisitions and divestitures, divestiture-related license income, restructuring activities, deal costs, separation costs, unrealized losses/(gains) on commodity hedges, impairment losses, certain non-ordinary course legal and regulatory matters, equity award compensation expense, nonmonetary currency devaluation, and debt prepayment and extinguishment (benefit)/costs, among other items. Therefore, as a result of the uncertainty and variability of the nature and amount of future adjustments, which could be significant, the Company is unable to provide a reconciliation of these measures without unreasonable effort.

ABOUT THE KRAFT HEINZ COMPANY

Kraft Heinz (NYSE: KHC) is one of the world’s largest food and beverage companies, with approximately $25 billion in net sales in 2025 and a portfolio of iconic brands enjoyed by consumers in more than 40 countries. By investing in our capabilities and brands, including Heinz, Kraft, Philadelphia, Primal Kitchen, and Lunchables, we are unlocking the full power of our portfolio. We deliver high-quality, great-tasting, and affordable food for the consumers of today, while shaping the future of food. Learn more at www.kraftheinzcompany.com.

Forward-Looking Statements

This press release contains a number of forward-looking statements. Words such as “accelerate,” “anticipate,” “believe,” “commit,” “continue,” “expect,” “will,” “guidance,” and “outlook,” and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding the Company's plans, impacts of accounting standards and guidance, growth, legal matters, taxes, costs and cost savings, impairments, dividends, expectations, investments, innovations, opportunities, capabilities, execution, initiatives, and pipeline. These forward-looking statements reflect management's current expectations and are not guarantees of future performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond the Company's control.

Important factors that may affect the Company's business and operations and that may cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, operating in a highly competitive industry; the Company’s ability to correctly predict, identify, and interpret changes in consumer preferences and demand, to offer new products to meet those changes, and to respond to competitive innovation; changes in the retail landscape or the loss of key retail customers; changes in the Company's relationships with significant customers or suppliers, or in other business relationships; the Company’s ability to maintain, extend, and expand its reputation and brand image; the Company’s ability to effect the previously announced separation of Kraft Heinz into two independent publicly traded companies and to meet the conditions related thereto, including obtaining applicable regulatory approvals, if work related to the separation is resumed; negative effects of the announcement pendency of the separation, including the current pause on work related to the separation, on the market price of the Company’s securities and/or on the Company’s financial performance; the Company’s ability to leverage its brand value to compete against private label products; the Company’s ability to drive revenue growth in its key product categories or platforms, increase its market share, or add products that are in faster-growing and more profitable categories; product recalls or other product liability claims; climate change and legal or regulatory responses; the Company’s ability to identify, complete, or realize the benefits from strategic acquisitions, divestitures, alliances, joint ventures, or investments; the Company's ability to successfully execute its strategic initiatives; the impacts of the Company's international operations; the Company's ability to protect intellectual property rights; the Company’s ability to realize the anticipated benefits from prior or future streamlining actions to reduce fixed costs, simplify or improve processes, and improve its competitiveness; the influence of the Company's largest stockholder; the Company's level of indebtedness, as well as our ability to comply with covenants under our debt instruments; additional impairments of the carrying amounts of goodwill or other indefinite-lived intangible assets; foreign exchange rate fluctuations; volatility in commodity, energy, and other input costs; volatility in the market value of all or a portion of the commodity derivatives we use; compliance with laws and regulations and related legal claims or regulatory enforcement actions; failure to maintain an effective system of internal controls; a downgrade in the Company's credit rating; the impact of sales of the Company's common stock in the public market; the impact of the Company’s share repurchases or any change in the Company’s share repurchase activity; the Company’s ability to continue to pay a regular dividend and the amounts of any such dividends; disruptions in the global economy caused by geopolitical conflicts (including the ongoing conflicts in the Middle East), unanticipated business disruptions and natural events in the locations in which the Company or the Company's customers, suppliers, distributors, or regulators operate; economic and political conditions in the United States and in various other nations where the Company does business (including inflationary pressures, the imposition of increased or new tariffs, instability in financial institutions, general economic slowdown, recession, or a potential U.S. federal government shutdown); changes in the Company's management team or other key personnel and the Company's ability to hire or retain key personnel or a highly skilled and diverse global workforce; our dependence on information technology and systems, including service interruptions, misappropriation of data, or breaches of security; increased pension, labor, and people-related expenses; changes in tax laws and interpretations and the final determination of tax audits, including transfer pricing matters, and any related litigation; volatility of capital markets and other macroeconomic factors; and other factors. For additional information on these and other factors that could affect the Company's forward-looking statements, see the Company's risk factors, as they may be amended from time to time, set forth in its filings with the Securities and Exchange Commission (“SEC”). The Company disclaims and does not undertake any obligation to update, revise, or withdraw any forward-looking statement in this press release, except as required by applicable law or regulation.

We use our investor relations website, ir.kraftheinzcompany.com, as a routine channel for distribution of important, and often material, information about Kraft Heinz, including quarterly and annual earnings results and presentations, press releases and other announcements, webcasts, analyst presentations, investor days, sustainability initiatives, financial information, and corporate governance practices, as well as archives of past presentations and events. We encourage you to follow our investor relations website in addition to our filings with the SEC to receive timely information about the Company. The information on our website is not part of this press release and shall not be deemed to be incorporated by reference into any filings we make with the SEC.

Non-GAAP Financial Measures

The non-GAAP financial measures provided in this press release should be viewed in addition to, and not as an alternative for, results prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

To supplement the financial information provided, the Company has presented Organic Net Sales, Adjusted Gross Profit, Adjusted Gross Profit Margin, Adjusted Operating Income, Constant Currency Adjusted Operating Income, Adjusted EBITDA, Adjusted Net Income/(Loss), Adjusted EPS, Free Cash Flow, and Net Leverage which are considered non-GAAP financial measures. The non-GAAP financial measures presented may differ from similarly titled non-GAAP financial measures presented by other companies, and other companies may not define these non-GAAP financial measures in the same way. These measures are not substitutes for their comparable GAAP financial measures, such as net sales, net income/(loss), operating income/(loss), gross profit, diluted earnings per share (“EPS”), net cash provided by/(used for) operating activities, or other measures prescribed by GAAP, and there are limitations to using non-GAAP financial measures.

Management uses these non-GAAP financial measures to assist in comparing the Company’s performance on a consistent basis for purposes of business decision making by removing the impact of certain items that management believes do not directly reflect the Company’s underlying operations. The Company believes:

Management believes that presenting the Company’s non-GAAP financial measures is useful to investors because it (i) provides investors with meaningful supplemental information regarding financial performance by excluding certain items, (ii) permits investors to view performance using the same tools that management uses to budget, make operating and strategic decisions, and evaluate historical performance, and (iii) otherwise provides supplemental information that may be useful to investors in evaluating the Company’s results. The Company believes that the presentation of these non-GAAP financial measures, when considered together with the corresponding GAAP financial measures and the reconciliations to those measures, provides investors with additional understanding of the factors and trends affecting the Company’s business than could be obtained absent these disclosures.

Definitions

Organic Net Sales is defined as net sales excluding, when they occur, the impact of currency, acquisitions and divestitures, and a 53rd week of shipments. The Company calculates the impact of currency on net sales by holding exchange rates constant at the previous year's exchange rate, with the exception of highly inflationary subsidiaries, for which the Company calculates the previous year's results using the current year's exchange rate.

Adjusted Operating Income is defined as operating income/(loss) excluding, when they occur, the impacts of restructuring activities, deal costs, separation costs, unrealized gains/(losses) on commodity hedges (the unrealized gains and losses are recorded in general corporate expenses until realized; once realized, the gains and losses are recorded in the applicable segment’s operating results), impairment losses, and certain non-ordinary course legal and regulatory matters. The Company also presents Adjusted Operating Income on a constant currency basis ( Constant Currency Adjusted Operating Income ). The Company calculates the impact of currency on Adjusted Operating Income by holding exchange rates constant at the previous year's exchange rate, with the exception of highly inflationary subsidiaries, for which it calculates the previous year's results using the current year's exchange rate.

Adjusted Gross Profit, Adjusted Net Income/(Loss), and Adjusted EPS are defined as gross profit, net income/(loss), and diluted earnings per share, respectively, excluding, when they occur, the impacts of restructuring activities, deal costs, separation costs, unrealized losses/(gains) on commodity hedges, impairment losses, certain non-ordinary course legal and regulatory matters, losses/(gains) on the sale of a business, other losses/(gains) related to acquisitions and divestitures (e.g., tax and hedging impacts), nonmonetary currency devaluation (e.g., remeasurement gains and losses), debt prepayment and extinguishment (benefit)/costs, and certain significant discrete income tax items (e.g., U.S. and non-U.S. tax reform), and including when they occur, adjustments to reflect preferred stock dividend payments on an accrual basis. Adjusted Gross Profit Margin is defined as Adjusted Gross Profit divided by net sales.

Net Leverage is defined as debt less cash, cash equivalents and short-term investments divided by Adjusted EBITDA. Adjusted EBITDA is defined as net income/(loss) from continuing operations before interest expense, other expense/(income), provision for/(benefit from) income taxes, and depreciation and amortization (excluding restructuring activities); in addition to these adjustments, the Company excludes, when they occur, the impacts of divestiture-related license income, restructuring activities, deal costs, separation costs, unrealized losses/(gains) on commodity hedges, impairment losses, certain non-ordinary course legal and regulatory matters, and equity award compensation expense (excluding restructuring activities).

Free Cash Flow is defined as net cash provided by/(used for) operating activities less capital expenditures. The use of this non-GAAP measure does not imply or represent the residual cash flow for discretionary expenditures since the Company has certain non-discretionary obligations such as debt service that are not deducted from the measure.

Kraft Heinz, one of the largest food and beverage companies in the world, celebrates its listing on the NYSE and hosts its 2026 Investor Day.

Kraft Heinz Executive Leadership Team joins Kool-Aid Man outside the NYSE.

Kraft Heinz CEO, Steve Cahillane, signs Distinguished Guest Book at the NYSE.

Kraft Heinz celebrates its listing on the NYSE and its Investor Day by ringing the Opening Bell.

Sportscaster Dan Hicks, who was the voice of golf, Olympic swimming and Notre Dame football during a 35-year career at NBC Sports, has died, his family and NBC announced Thursday. He was 64.

Hicks died late Wednesday in Connecticut. He died of an acute illness, according to his wife, Hannah Storm.

“Our family is heartbroken by the sudden and unexpected passing of Dan,” Storm said in a statement. “He was a devoted husband of over 30 years, loving father to our three daughters, and cherished friend to so many. His loss is immeasurable.

“Dan was truly one of a kind and, quite simply, the person everyone wanted to be around. When he walked into a room, he brought the energy, the laughter and the people together. He was endlessly kind, thoughtful and funny, and he made everyone feel like they mattered."

Hicks was best known as the lead announcer for golf, as well as swimming and skiing at the Olympics and Notre Dame football. He joined NBC in 1992 following three years at CNN.

“I’m incredibly lucky to stay at one place this long. It takes a lot of things going your way as far as NBC continuing to have the properties that I’ve been a part of through the years,” he said during an Associated Press interview in September. “So lots of variables, lots of things that can happen in your career. But I think I appreciate it more and more the longer it’s been.”

Hicks was on the call for 27 tournament victories by Tiger Woods, including three at the U.S. Open. He was a tower announcer from 1995-99 before taking over as the main voice in 2000.

“He was a great quarterback, a point guard. If you listen to his broadcast, to me he was terrific at passing the ball around," NBC golf commentator Roger Maltbie said. "He always had a question. He always got you engaged. That’s a big part of the job.”

Hicks called 27 U.S. Opens and 23 U.S. Women's Opens. USGA CEO Mike Whan said in a statement that Hicks “was a true friend to the game and to the USGA, but more importantly, a wonderful person whose warmth, generosity, and friendship touched everyone fortunate enough to know him.”

Hicks also called the Ryder Cup, British Open and PGA Tour events, including The Players Championship.

“Dan’s voice filled our living rooms with his steady narration of countless golf broadcasts, calling some of the game’s biggest moments,” the PGA Tour said in a statement. “The sound of his voice is woven into our memories of the game, and the warmth he brought to the broadcast was matched only by the kindness he showed those around him."

Hicks worked a total of 16 Olympics — nine Summer, seven Winter — with his first being the 1992 Barcelona Games as a host for the Olympic triplecast.

“Dan Hicks was an extraordinary colleague, friend and person,” NBC Sports’ Rick Cordella, Sam Flood and Molly Solomon said in a statement. “He was an exceptional storyteller and caller of games and events who elevated some of the biggest moments in sports history.”

Hicks called swimming at the Olympics eight times with Rowdy Gaines. The duo chronicled Michael Phelps’ eight gold medals at the 2008 Beijing Games and Katie Ledecky’s 14 medals across four Olympics (2012-24).

“My heart is broken. Danny wasn’t just my partner in the booth for eight Olympics. He was one of my closest friends, someone I trusted with everything, both in and out of that arena. He was the glue that held us all together at all of those Games,” Gaines posted on social media. “He made me laugh like no other person ever has. We shared thousands of races and a friendship that went way beyond the pool deck. I’ll miss his voice, his steadiness, and just having him next to me.”

Hicks was on the call for alpine skiing for the last four Winter Games as well as speed skating in 2002, ’06 and ’10.

Two-time Olympic champion Ted Ligety, who was NBC's alpine skiing analyst the last two Olympics, said Hicks excelled at calling races but also telling athletes' stories.

“I was always in awe of his ability to know so much about so many sports so fluidly. And his curiosity, he didn’t come in ever with this idea that he knew what was up — he asked a million questions and was really curious. He was able to instantly bring that into the broadcast,” Ligety said. “It’s fun to sit there next to somebody and watch them at their craft at such a high level. Beyond that, just fun to sit next to him and be with him and after a call, share a beer. Just a genuinely fun and awesome dude. The amazing part is his on-air personality and likeableness was only greater in real life.”

This was Hicks’ seventh season calling games for Notre Dame, from which his wife graduated in 1983. He did it from 2013-16 before returning in 2024. Hicks was scheduled to call for the Fighting Irish's game Saturday against Boston College.

Notre Dame athletic director and former NBC Sports president Pete Bevacqua said Hicks "was a fixture here on campus and in the broadcast booth as one of the great voices for Notre Dame Football. ... More importantly, a dear friend over the course of the last quarter century.”

Hicks also called regional NFL games on NBC from 1992-97, five French Opens and some NBA coverage from 1992-2000.

Hicks is survived by Storm — his wife of 32 years — and their three daughters Hannah, Ellery and Riley.

AP Sports Writer Pat Graham in Denver and AP Golf Writer Doug Ferguson in Jacksonville, Florida, contributed to this report.

See AP’s full sports coverage here

FILE - Broadcaster Dan Hicks look on at the Tour Championship golf tournament at East Lake Golf Club on Sunday, Sept. 27, 2015, in Atlanta. (Curtis Compton /Atlanta Journal-Constitution via AP, File)

FILE - From left, the Golf Channel's Dan Hicks, Johnny Miller and Nick Faldo work during the first round of the Hyundai Tournament of Champions PGA Tour golf tournament in Kapalua, Hawaii, Friday, Jan. 6, 2012. (AP Photo/Eric Risberg, File)

FILE - From left, PGA Commissioner Tim Finchem, and broadcaster Dan Hicks look on as Jordan Spieth is presented the FedEx Cup after winning the Tour Championship golf tournament at East Lake Golf Club on Sunday, Sept. 27, 2015, in Atlanta. (Curtis Compton/Atlanta Journal-Constitution via AP, File)