Kraft Heinz (KHC) Tops Q1 EPS by 7c, Revenue Beats

Kraft Heinz (NASDAQ: KHC) reported Q1 EPS of $0.60, $0.07 better than the analyst estimate of $0.53. Revenue for the quarter came in at $6.05 billion versus the consensus estimate of $5.83 billion.

GUIDANCE:

The Company continues to expect strong financial performance in 2022. The Company is raising expectations for 2022 Organic Net Sales(2) to a mid-single-digit percentage increase versus the prior year period, reflecting strong performance to date, ongoing business momentum, and additional pricing actions to mitigate ongoing inflation. The Company continues to expect Adjusted EBITDA(2) to be in the range of $5.8 billion to $6.0 billion with a 48 percent to 52 percent first half to second half split. This reflects a 53rd week in 2022, 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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