- Kraft Heinz Co (NASDAQ:KHC) reported fourth-quarter FY22 sales growth of 10% year-on-year to $7.38 billion, beating the consensus of $7.26 billion.
- Sales in North America rose 9.1% Y/Y, and International climbed 13.1%.
- Gross profit increased by 9.3% Y/Y to $2.36 billion, with the margin contracting 20 points to 32%.
- Operating margin for the quarter was 16.6%, and the operating income for the quarter was $1.2 billion versus a loss of $(20) million last year.
- Adjusted EBITDA rose 8.6% to $1.7 billion.
- Adjusted EPS of $0.85 beat the analyst consensus of $0.78.
- Kraft Heinz held $1.04 billion in cash and equivalents as of Dec. 31, 2022. Net cash provided by operating activities for the year totaled $2.5 billion.
- Outlook: Kraft Heinz sees FY23 organic net sales growth of 4% – 6%.
- The company expects FY23 adjusted EPS of $2.67 – $2.75 versus the consensus of $2.77.
- Price Action: KHC shares are trading higher by 0.14% at $39.94 on the last check Wednesday.
Asia And European Markets Slide Post US Inflation Data, Crude Jumps 3% While Gold Surpasses $1,900 – Global Markets Today While US Was Sleeping
On Thursday, October 13, the U.S. stock markets closed in red, affected by rising bond yields following a U.S. Treasury auction and data indicating a higher-than-expected increase in September consumer price.
The benchmark yield surged to 4.728%, reversing the declines observed over the last two days. U.S. inflation for September was 3.7%, slightly above the expected 3.6%.
