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Kraft Heinz FY24 Adj. EPS Outlook $3.01-$3.07 Vs. $3.03 Estimate, Organic Revenue Growth 0-2%

Author: Benzinga Newsdesk | February 14, 2024 08:03am

Outlook

For fiscal year 2024, the Company expects:

  • 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.

Posted In: KHC


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