- Kraft Heinz Co CHC reported revenue growth of 10% in the fourth quarter of fiscal 22 year over year to $7.38 billion, beating the consensus of $7.26 billion.
- Sales in North America were up 9.1% year over year and overseas were up 13.1%.
- Gross profit rose 9.3% year over year to $2.36 billion, with margin shrinking 20 points to 32%.
- Operating margin for the quarter was 16.6% and operating income for the quarter was $1.2 billion versus a loss of ($20) million last year.
- Adjusted EBITDA increased 8.6% to $1.7 billion.
- Adjusted earnings per share of $0.85 beat analyst consensus of $0.78.
- Kraft Heinz had $1.04 billion in cash and cash equivalents as of December 31, 2022. Net cash provided from operations for the year totaled $2.5 billion.
- outlook: Kraft Heinz expects FY23 organic net sales growth of 4% to 6%.
- The company expects FY23 adjusted earnings per share to be in the range of $2.67 to $2.75 versus consensus of $2.77.
- Price promotion: KHC shares are trading up 0.14% at $39.94 on the latest check Wednesday.
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