Kraft Heinz Expects Long-Term Organic Sales Growth Of 2%-3%

The Kraft Heinz Co (NASDAQ:KHC) announced its long-term growth outlook, expecting organic net sales growth of 2%-3% driven by a combination of regions, platforms, and channels.

Within the North America zone, the company expects organic net sales growth of 1%-2% in US Retail and +5% in North America Foodservice businesses.

In the International zone, KHC projects organic net sales to grow by +10% in international foodservice and +13% in emerging markets businesses. 

Last month, the company reported first-quarter FY23 sales growth of 7.3% year-on-year to $6.49 billion, beating the consensus of $6.40 billion and adjusted EPS of $0.68, beating the analyst consensus of $0.60. 

Kraft Heinz had reaffirmed its guidance for 2023 organic net sales growth of 4%-6% Y/Y and raised the adjusted EPS outlook to $2.83-$2.91 (vs. consensus of $2.72) from $2.67-$2.75.

Price Action: KHC shares are trading lower by 0.36% at $36.85 on the last check Tuesday.