Packaged foods company Kraft Heinz (NASDAQ: KHC) will be reporting results this Wednesday before market open. Here’s what investors should know.

Kraft Heinz met analysts’ revenue expectations last quarter, reporting revenues of $6.00 billion, down 6.4% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ EBITDA estimates but full-year EPS guidance missing analysts’ expectations.

Is Kraft Heinz a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Kraft Heinz’s revenue to decline 3.1% year on year to $6.27 billion, in line with the 3.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.64 per share.

Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 4 downward revisions over the last 30 days (we track 10 analysts).

Looking at Kraft Heinz’s peers in the shelf-stable food segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Lamb Weston delivered year-on-year revenue growth of 4%, beating analysts’ expectations by 5.7%, and McCormick reported flat revenue, in line with consensus estimates. Lamb Weston traded up 19.3% following the results while McCormick was also up 3.6%.

Read our full analysis of Lamb Weston’s results here and McCormick’s results here.

There has been positive sentiment among investors in the shelf-stable food segment, with share prices up 3.8% on average over the last month. Kraft Heinz is up 9.3% during the same time and is heading into earnings with an average analyst price target of $30.18 (compared to the current share price of $28.22).

Today’s young investors won’t have read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.

StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.