Kraft Heinz Affirms FY24 Adj EPS Guidance $3.01-3.07 vs $3.04 Est, Organic Revenue Growth 0% - 2%
Portfolio Pulse from Benzinga Newsdesk
Kraft Heinz reaffirms its fiscal year 2024 guidance, expecting organic net sales growth of 0-2%, adjusted operating income growth of 2-4%, and adjusted EPS of $3.01-$3.07. The company anticipates a positive price contribution, volume growth in H2, an adjusted gross profit margin expansion, and an effective tax rate of 20-22%. However, it also expects a $45 million unfavorable impact from foreign currency and debt refinancing.
May 01, 2024 | 11:05 am
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Kraft Heinz projects FY24 organic sales growth of 0-2%, adjusted operating income growth of 2-4%, and adjusted EPS of $3.01-$3.07, with challenges from currency and debt refinancing.
The reaffirmation of Kraft Heinz's FY24 guidance, especially the EPS range meeting analyst expectations, is likely to be viewed positively by investors. The detailed outlook, including expected growth in sales and income, suggests a stable financial trajectory. However, the anticipated $45 million impact from currency and debt refinancing could temper optimism slightly. Overall, the guidance suggests confidence in operational performance and strategic financial management, likely supporting a positive short-term price direction.
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