The Kraft Heinz Company (NASDAQ:KHC) Q2 2024 Results Conference Call July 31, 2024 9:00 AM ET

Company Participants

Anne-Marie Megela - Head of Global Investor Relations
Carlos Abrams-Rivera - Chief Executive Officer
Andre Maciel - Executive Vice President and Global Chief Financial Officer

Conference Call Participants

Andrew Lazar - Barclays
Ken Goldman - JPMorgan
Steve Powers - Deutsche Bank
John Baumgartner - Mizuho Securities
Michael Lavery - Piper Sandler
David Palmer - Evercore
Robert Moskow - TD Cowen

Operator

Good day, and thank you for standing by. Welcome to The Kraft Heinz Company Second Quarter Results Conference Call. [Operator Instructions] Please be advised that the conference is being recorded. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Anne-Marie Megela.

Anne-Marie Megela

Thank you, and hello, everyone. This is Anne-Marie Megela, Head of Global Investor Relations at The Kraft Heinz Company, and welcome to our Q&A session for our second quarter 2024 business update.

During today's call, we may make forward-looking statements regarding our expectations for the future, including items related to our business plans and expectations, strategy, efforts and investments and related timing and expected impacts. These statements are based on how we think today, and actual results may differ materially due to risks and uncertainties.

Please see the cautionary statements and risk factors contained in today's earnings release, which accompanies this call as well as our most recent 10-K, 10-Q and 8-K filings for more information regarding these risks and uncertainties.

Additionally, we may refer to non-GAAP financial measures which excludes certain items from our financial results reported in accordance with GAAP. Please refer to today's earnings release and the non-GAAP information available on our website at ir.kraftheinzcompany.com under News and Events, or discussion of our non-GAAP financial measures and reconciliations to the comparable GAAP financial measures.

I will now hand it over to our Chief Executive Officer, Carlos Abrams-Rivera for opening comments. Carlos, over to you.

Carlos Abrams-Rivera

Well, thank you, Anne-Marie, and thank you, everyone, for joining us today.

Recognizing that it remains a difficult consumer environment, I am proud that we at Kraft Heinz are providing high-quality, convenient solutions that are a great value, brand worth paying for. And we will continue to stay focused on renovating and innovating with new benefits functionality and accessibility.

At the same time, our teams have been relentless in unlocking efficiencies with a mindset of continuous improvements. And as a result of greater productivity and efficiencies, we have been able to hold prices below inflation this year while continuing to invest in innovation, marketing and R&D. And for our stockholders, through our dividends and share repurchases, we have returned over $1.5 billion in capital so far this year. I am very encouraged on how our focus on improving working capital is paying off.