Kraft Heinz (KHC) Tops Q2 EPS by 2c

Kraft Heinz (NASDAQ: KHC) reported Q2 EPS of $0.70, $0.02 better than the analyst estimate of $0.68. Revenue for the quarter came in at $6.6 billion versus the consensus estimate of $6.38 billion.

Outlook:

The Company continues to expect strong financial performance in 2022. The Company is raising expectations for 2022 Organic Net Sales(2) to a high-single-digit percentage increase versus the prior year period, as compared to previous expectations of a mid-single-digit percentage increase, reflecting strong performance to date and ongoing business momentum. The Company continues to expect 2022 Adjusted EBITDA(2) to be in the range of $5.8 billion to $6.0 billion, with a 45 percent to 55 percent third quarter to fourth quarter split. This full year Adjusted EBITDA outlook reflects a 53rd week in 2022, an increase in foreign currency headwinds based on current exchange rates, the impact of divestitures versus the prior year, strong Organic Net Sales, as well as the Company's ongoing efforts to manage inflationary pressures, including unlocking gross efficiencies, as it continues to invest in long-term growth.

For earnings history and earnings-related data on Kraft Heinz (KHC) click here.

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