KHC · 10-Q · 2026Q3 · Full report
SNAP Program Changes
Kraft Heinz Co · 2026-11-04 · Importance 26 · Surprise 24 · In source text
The One Big Beautiful Bill Act, signed into U.S. law on July 4, 2025, modified the Supplemental Nutrition Assistance Program (SNAP). By the third quarter of 2026, the changes had reduced both the number of participants and the average benefits received by eligible participants. Kraft Heinz says the resulting consumer-demand pressure may continue to negatively affect its results of operations, cash flows, and market share, despite mitigation measures.
Key facts
- OBBBA SNAP modifications had reduced the number of SNAP participants and average benefits by Q3 2026, negatively affecting and potentially continuing to affect demand for Kraft Heinz products, results, cash flows, and market share. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | negative | realized | — | OBBBA SNAP modifications had reduced the number of SNAP participants and average benefits by Q3 2026, negatively affecting and potentially… |
| cash | negative | realized | — | OBBBA SNAP modifications had reduced the number of SNAP participants and average benefits by Q3 2026, negatively affecting and potentially… |
| revenue | negative | contingent | — | OBBBA SNAP modifications had reduced the number of SNAP participants and average benefits by Q3 2026, negatively affecting and potentially… |
| cash | negative | contingent | — | OBBBA SNAP modifications had reduced the number of SNAP participants and average benefits by Q3 2026, negatively affecting and potentially… |