Kraft Heinz FY24 Adj. EPS Outlook $3.01-$3.07 Vs. $3.03 Estimate, Organic Revenue Growth 0-2%
Portfolio Pulse from Benzinga Newsdesk
Kraft Heinz projects FY24 organic net sales growth of 0-2%, adjusted operating income growth of 2-4%, and adjusted EPS of $3.01-$3.07, aligning closely with a $3.03 estimate. The company anticipates positive price contributions, volume increases in H2, modest gross profit margin expansion, and an effective tax rate of 20-22%. However, it expects a $45 million unfavorable impact from foreign currency and debt refinancing.
February 14, 2024 | 12:03 pm
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Kraft Heinz anticipates FY24 organic sales growth of 0-2%, adjusted operating income growth of 2-4%, and adjusted EPS of $3.01-$3.07, closely matching estimates. The company expects positive pricing, second-half volume growth, and a modest gross profit margin expansion, despite a $45 million impact from currency and debt refinancing.
The forecast aligns closely with estimates, indicating a stable outlook. Positive pricing and volume growth in the second half are optimistic signs. However, the $45 million impact from currency and debt refinancing could offset some gains, making the overall short-term impact neutral.
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