Kraft Heinz Q1 adj EPS $0.69 (+1.5% YoY); reaffirms FY24 outlook, raises gross margin view

Kraft Heinz Co

2024-Q1 EPS reported $0.66 revenue$6,411,000,000

Net sales $6.4B (-1.2%); Organic Net Sales -0.5% with price +2.7pp offset by volume/mix -3.2pp.
Adjusted Operating Income $1.265B (+1.7%); gross margin up 240 bps to 35.0%.
Diluted EPS $0.66 (-2.9%); Adjusted EPS $0.69 (+1.5%); FCF $477M (+116.8%).
Reaffirms FY24: Organic Net Sales growth 0-2%, Adj. OI growth 2-4%, Adj. EPS $3.01-$3.07.
Adj. gross margin expansion guidance raised to 50-100 bps from prior 25-75 bps; paid $486M dividends, $329M buybacks in Q1.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Kraft Heinz Co updated its first quarter ended March 30, 2024 guidance (reaffirmed).

Period: first quarter ended March 30, 2024
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On May 1, 2024, The Kraft Heinz Company issued a press release announcing results for the first quarter ended March 30, 2024.

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Source: SEC EDGAR

accession 0001637459-24-000066

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