Halloween isn’t the only holiday this week… It's also time for many publicly traded CPG companies to report Q3 earnings! Don’t be spooked by the arcane financial documents from Mondelēz, Kellanova and Utz, though: we’ve done the heavy lifting for you, and siphoned out some bite-sized insights to snack on. 

Overall, the snack sector remains strong: each company posted organic net sales gains, driven by volume/mix growth. Utz saw organic net sales growth of 1.9%, while Kellanova posted a 6% gain and Mondelēz came in at 5.4%.

The deal space around snacks also remains robust. See Mars’ pending acquisition of Kellanova as a key indicator that there is still plenty of interest and runway for the sector. Not to mention privately-held Our Home’s salty snack M&A blitz this year or yesterday’s formation of UpSnack Brands, spearheaded by the likes of Spudsy and Pipcorn. 

Nosh Insiders can access the full report for insight into the current snack category landscape.

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Kraft Heinz Company posted sales declines and an income slump amid “near-term volatility” and “challenges,” said CEO Carlos Abrams-Rivera. The company’s three segments all reported net sales below the year-ago period with volume/mix down 3.4% overall. Kraft Heinz highlighted challenges with its Lunchables brand but said it is investing in new marketing campaigns and innovation to bring consumers back in. Here’s a look at some of the numbers:

• Net sales decreased to $6.3 billion, a 2.8% decline from Q3 2023.
• Operating loss was $101 million, which compared to operating income of $653 million in the same period last year.
• Adjusted gross profit margin was 34.3% rising from 33.4% in Q3 2023.

💬 “Certainly this year has been very different than I think many of us in this industry expected,” Abrams-Rivera said on the call. “A number of circumstances have changed. We are frankly reorienting to what the reality of the consumer is, particularly here in the U.S.”

Read a full account of Kraft Heinz’s Q3 Earnings on Nosh.

On this episode of CPG Week, the team breaks down Keurig Dr Pepper’s (KDP) $1 billion deal to acquire GHOST Energy. This includes a discussion of why this move is surprising when KDP’s other energy category investments come into consideration as well as how the integration of GHOST has the potential to open new distribution opportunities for emerging category brands. The team also talks about Olipop’s growing list of sports team partnerships and how it is putting together a novel formula for category disruption. Later, the chatter turns to all of the insights within Whole Foods Market’s recent 2025 trends list.

Listen to the episode now.

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