Kraft Heinz reported Q3 organic net sales down 1.1% and adjusted EPS down about 13% to $0.53, as North American organic sales fell 3.2% amid inflation and higher investment spending, partly offset by 15.6% growth in emerging markets. Adjusted operating income dropped 15.2% and the operating margin fell 230 basis points, which management attributed to inflation, investments in marketing, R&D and personnel, and tougher comparisons with lower variable compensation in 2025. CEO Steve Cahillane said the U.S. retail recovery is progressing but incomplete, and the remaining $700 million investment will be deployed in the fourth quarter. The company raised its outlook, now expecting 2026 organic sales to decline 1.25% to 0.5% and adjusted EPS of $2.07 to $2.13, while maintaining its operating-income forecast.
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