Kraft Heinz (KHC) Earnings: Q3 Fiscal 2026 Results

The quarter ended September 26, 2026 and Kraft Heinz published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 fiscal 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Kraft Heinz reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted EPS (non-GAAP), which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Kraft Heinz's fiscal quarter ended September 26, 2026; the year-ago quarter ended September 27, 2025.
• Q2 fiscal 2026 in the history table includes large non-cash goodwill and intangible asset impairments, which produced the diluted loss of $4.60 per share.

Source: Kraft Heinz Q3 2026 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 26, 2026. Figures as reported; checked against the release on November 10, 2026.

How Kraft Heinz splits revenue in its own release, under its own labels, for Q3 fiscal 2026 against Q3 fiscal 2025. Indented lines are parts of the line above them.

• Kraft Heinz's North America revenue was $4.5 billion in Q3 fiscal 2026, down 3% from $4.6 billion in Q3 fiscal 2025, 73% of total revenue.
• Kraft Heinz's Europe and Pacific Developed Markets revenue was $910 million in Q3 fiscal 2026, down 6% from $964 million in Q3 fiscal 2025, 15% of total revenue.
• Kraft Heinz's Emerging Markets revenue was $720 million in Q3 fiscal 2026, up 14% from $632 million in Q3 fiscal 2025, 12% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

The (1)(2) markers are the release's footnotes: each measure is non-GAAP and given on a non-GAAP basis only.

In its Q3 fiscal 2026 release, Kraft Heinz said:

“Organic Net Sales (1)(2) down 0.5 percent to down 1.25 percent versus the prior year. This outlook includes an approximate 100 basis point impact from incremental SNAP headwinds.”

“Constant Currency Adjusted Operating Income (1)(2) down 16 percent to down 18 percent versus the prior year.”

“Adjusted EPS (1)(2) is now expected to be in the range of $2.07 to $2.13.”

“Free Cash Flow Conversion (1)(2) of approximately 110 percent.”

Source: Kraft Heinz Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the KHC forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Net sales and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for Kraft Heinz's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 fiscal 2026 (this page), reported Nov 4, 2026

Kraft Heinz reports three segments. North America had net sales of $4,485 million of the $6,115 million total in Q3 fiscal 2026, Europe and Pacific Developed Markets $910 million and Emerging Markets $720 million. Emerging Markets was the only segment that grew, up 13.8% from $632 million. (Kraft Heinz Q3 2026 release, Nov 4, 2026)

Kraft Heinz reports ten product categories. Condiments, Sauces, and Spreads (Heinz ketchup, Kraft mayonnaise and dressings, Philadelphia cream cheese, Classico) is the largest at $2,750 million, up from $2,712 million. Ambient Meals and Sides brought in $744 million and Refreshment Beverages (Capri-Sun, Kool-Aid, Crystal Light) $541 million, while Meats, mainly Oscar Mayer, fell to $449 million from $501 million. (Kraft Heinz Form 10-Q, Q3 2026, Nov 4, 2026)

Net sales fell 2.0%, including 0.3 percentage points from foreign currency and 0.6 points from divestitures. Organic Net Sales fell 1.1%, with price flat and volume/mix down 1.1 points. Kraft Heinz said the volume decline came mainly from meats, sauces and refreshment beverages in North America, plus an approximate 80 basis point headwind from inventory pulled forward into the second quarter. Emerging Markets organic sales rose 15.6%, with 7.2 points from price and 8.4 points from volume/mix. (Kraft Heinz Q3 2026 release, Nov 4, 2026)

Kraft Heinz's sales are concentrated with large retailers. Walmart represented approximately 21% of net sales in 2025, and the five largest North America customers accounted for approximately 46% of that segment's net sales. In the 10-Q Kraft Heinz said changes to SNAP have reduced the number of participants and their average benefits, which has had a negative impact on demand for its products. (Kraft Heinz Form 10-K, fiscal 2025, Feb 12, 2026; Kraft Heinz Form 10-Q, Q3 2026, Nov 4, 2026)

Kraft Heinz's diluted EPS was $0.46 in Q3 fiscal 2026 and Adjusted EPS $0.53, against $0.52 and $0.61 a year earlier. Adjusted EPS excludes $72 million of impairment losses ($0.06 per share), $24 million of separation costs ($0.01), restructuring ($0.01) and nonmonetary currency devaluation ($0.01), and removes a $0.02 benefit from unrealized gains on commodity hedges. The goodwill impairment of $69 million related to the EurAsia reporting unit and was primarily driven by the Indonesia business. (Kraft Heinz Q3 2026 release, Nov 4, 2026; Kraft Heinz Form 10-Q, Q3 2026, Nov 4, 2026)

Kraft Heinz said Adjusted EPS fell on lower Adjusted Operating Income and other expense/(income), partly offset by lower interest expense ($210 million, against $240 million) and lower taxes on adjusted earnings. The GAAP effective tax rate was 23.8%, against 24.0% a year earlier, and included a 2.0% unfavorable impact from the goodwill impairment. (Kraft Heinz Q3 2026 release, Nov 4, 2026; Kraft Heinz Form 10-Q, Q3 2026, Nov 4, 2026)

Diluted shares outstanding were 1,192 million, against 1,186 million a year earlier. Kraft Heinz did not repurchase any shares under its program and paid $1.4 billion in cash dividends in the first nine months. Its board paused work on the planned split into two companies on February 11, 2026, and separation costs are still being excluded from Adjusted EPS. (Kraft Heinz Q3 2026 release, Nov 4, 2026; Kraft Heinz Form 10-Q, Q3 2026, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Kraft Heinz gives a full-year outlook on a non-GAAP basis only. With Q3 fiscal 2026 results it raised the low end of its Organic Net Sales range to down 0.5% to down 1.25%, from down 2% to down 0.5%, including an approximate 100 basis point impact from SNAP. It now expects Adjusted EPS of $2.07 to $2.13, up from $2.03 to $2.09, and kept Constant Currency Adjusted Operating Income at down 16% to down 18%. (Kraft Heinz Q3 2026 release, Nov 4, 2026)

The outlook also assumes an effective tax rate on Adjusted EPS of approximately 23.5% (previously approximately 24.5%), interest expense of approximately $890 million, Free Cash Flow Conversion of approximately 110%, and incremental investments of approximately $700 million compared to 2025. (Kraft Heinz Q3 2026 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Kraft Heinz, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Kraft Heinz's own release and filings put weight on for Q3 fiscal 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning KHC is on is KHC a buy or a sell?, what analysts expect next is on the KHC forecast, and what the company does is on the Kraft Heinz (KHC) stock page.

Every number on this page can be traced to a document Kraft Heinz published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.