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Kraft Heinz: EPS down 8% in Q4

( - Kraft Heinz reports adjusted EPS that is down 8.
2% to $0.78 and an adjusted EBITDA that fell 5.3% to $1.65bn for Q4 2023, weighed on by a negative impact linked to the 53rd week of the previous fiscal year. NB pmt -1.2%.

At $6.86bn, revenues fell 7.1% as reported, but only 0.7% on an organic basis, with a positive price effect of 3.7 points largely offsetting a 4.4-point contraction in volumes.

For FY 2024, the food group expects adjusted EPS to rise by 1%-3%, to between $3.01 and $3.07, as well as a 2%-4% increase in adjusted operating profit and organic revenue growth of 0-2%.

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