Kraft Heinz Reiterated 2024 Organic Net Sales Growth of 0%-2%, Adj EPS of $3.01-$3.07 Vs $3.03 Est
Portfolio Pulse from Benzinga Newsdesk
Kraft Heinz reiterates its 2024 financial outlook, expecting organic net sales growth of 0%-2%, adjusted operating income growth of 2%-4%, and adjusted EPS of $3.01-$3.07, aligning with a $3.03 estimate. The company anticipates positive price contributions and volume increases in the second half, with a modest expansion in adjusted gross profit margin. Challenges include a potential $45 million impact from foreign currency and debt refinancing.

February 21, 2024 | 12:41 pm
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Kraft Heinz projects 2024 organic net sales growth of 0%-2%, adjusted operating income growth of 2%-4%, and adjusted EPS of $3.01-$3.07, in line with estimates. The company anticipates a modest margin expansion and faces a $45 million impact from currency and debt refinancing.
The reiterated financial outlook by Kraft Heinz indicates stability and a clear path forward, despite potential headwinds. The alignment of the adjusted EPS forecast with estimates suggests market expectations have been accurately incorporated into the company's projections. The anticipated positive price contributions and volume growth in the latter half of the year could support stock stability. However, the mentioned $45 million impact from currency fluctuations and debt refinancing introduces a note of caution, potentially offsetting some of the positive outlook and leading to a neutral short-term impact on the stock price.
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