- 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.
Shineco Subsidiary Receives Prior Approval Supplement From The NMPA Jiangsu Bureau For The Marketing Approval Of “Cardiac 5-Minute Test”
Shineco, Inc. (("Shineco" or the "Company", NASDAQ:SISI), a producer and distributor of Chinese herbal medicines, organic agricultural and other biotech products, announced that the Company's
