Kraft Heinz: raises 2023 guidance

(CercleFinance.com) - On announcing its quarterly results, Kraft Heinz has raised its annual outlook for adjusted EPS (to between $2.
83 and $2.91) and growth in adjusted EBITDA (to between +4% and 6% at constant exchange rates), with organic revenue growth still expected to be between 4% and 6%.

The food company reported adjusted EPS up 13.3% to $0.68 for Q1 2023, and adjusted EBITDA up 10.3% at $1.48bn, with an adjusted gross margin up 1.3 point at 32.8%.

Meanwhile, revenue rose 7.3% to $6.49bn, and 9.4% organically, with a positive price effect of 14.7% more than offsetting negative volume/mix effects of 5.3%.


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