Kraft Heinz (KHC) Tops Q4 EPS by 1c, Revenue Light, Offers Guidance

Kraft Heinz (NASDAQ: KHC) reported Q4 EPS of $0.78, $0.01 better than the analyst estimate of $0.77. Revenue for the quarter came in at $6.9 billion versus the consensus estimate of $6.98 billion.

GUIDANCE:

Kraft Heinz sees FY2024 EPS of $3.01-$3.07, versus the consensus of $3.03.

• Organic Net Sales(2) growth of 0 to 2 percent versus the prior year. The Company expects a positive contribution from price throughout the year, with volumes inflecting positive in the second half of the year.
• Adjusted Operating Income(1)(2) growth of 2 to 4 percent versus the prior year. Adjusted Gross Profit Margin(1)(2) is expected to expand modestly, in the range of 25 to 75 basis points versus the prior year.
• Adjusted EPS(2) growth of 1 to 3 percent, or in the range of $3.01 to $3.07. The Company expects an effective tax rate on Adjusted EPS to be in the range of 20 to 22 percent. Additionally, the Company expects an unfavorable impact of approximately $45 million within interest and other expense/(income) versus the prior year. This is primarily driven by foreign currency headwinds and debt refinancing that will come at a higher rate. The outlook does not include the possibility of additional share buyback in 2024.

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

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