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KHC · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue fell 1.4% y/y to $6.26B, operating margin −102.7% vs −125.5%, net loss $5.46B (vs net loss $7.82B a year earlier).
All figures in $M.
| Line item | Amount and change |
|---|---|
| Net sales | $6,262 · −1.4% |
| Interest expense/(income) | $31 · vs −$240 |
| Other expense/(income) | $24 · −48.9% |
| Income Tax Benefit | $916 · +166% |
| Net income/(loss) attributable to common shareholders | $5,460 · −30.2% |
| Cost of products sold | $4,234 · +1.6% |
| Selling, general and administrative expenses, excluding impairment losses | $1,107 · +24.2% |
| Goodwill impairment losses | $2,441 · −63.5% |
| Intangible asset impairment losses | $4,911 · +90.9% |
Verdict: revenue fell 1.4% y/y to $6.26B, operating margin −102.7% vs −125.5%, net loss $5.46B (vs net loss $7.82B a year earlier).
Year-to-date free cash flow $1.7 billion, up 10.3%, and free cash flow conversion 123% (non-GAAP); year-to-date return of capital to stockholders $0.9 billion; organic net sales outlook raised.
Source and notation
Source: Kraft Heinz press release, 8-K EX-99.1 of 08/05/2026 (SEC EDGAR). Every figure was matched against the income statement in the release and checked against SEC XBRL.
Open as an image: KHC, Q2 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
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Chart: “KHC Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/khc/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/khc/q2-2026"><img src="https://whoreportstoday.com/t/khc/q2-2026/sankey.png" alt="KHC Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/khc/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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<a href="https://whoreportstoday.com/t/khc/q2-2026">KHC Q2 2026 earnings chart (Who Reports Today)</a>
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- The operating loss of $6.4 billion was driven by non-cash impairment losses of $7.4 billion; adjusted operating income decreased 18.4% to $1.0 billion.
- Net sales fell to $6,262M from $6,352M: North America $4,626M vs $4,757M and International Developed Markets $865M vs $897M, while Emerging Markets grew to $771M from $698M.
- The company is increasing incremental brand investments by $100 million, to approximately $700 million in 2026.
- Gross margin was 32.4% vs 34.4% a year earlier.
- Operating loss was $6.43B, a −102.7% margin vs −125.5% a year earlier.
- The effective tax rate was 14.4% vs 4.2% a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
KHC — The Kraft Heinz Company is a global food and beverage company whose brands include Heinz, Kraft, Oscar Mayer, Philadelphia and Lunchables, selling through retail and away-from-home channels.
Headquarters: Pittsburgh, Pennsylvania (co-headquartered in Chicago, Illinois).
Heads-up
- a net loss in Q2 2026 ($5,460 · −30.2%)
Net loss for Q2 2026: $5,460M. In the report's figures: costs grew faster than revenue: intangible asset impairment losses +91% y/y, selling, general and administrative expenses, excluding impairment losses +24% y/y. Based on the Q2 2026 report.
The company's report ↗More reports: KMB · Q2 2026 · KO · Q3 2026 · KR · Q2 FY2026 · KVUE · Q3 2026 · MDLZ · Q3 2026 · MKC · Q3 FY2026 · MNST · Q2 2026 · MO · Q3 2026 · PEP · Q3 2026 · PG · Q1 FY2027 · all reports