Kraft Heinz reports Q4 adjusted EPS 78c, consensus 77c

Reports Q4 revenue $6.86B, consensus $6.98B. “I’m proud of the results we delivered in 2023 and the progress we’ve made as a Company throughout the year,” said Kraft Heinz CEO Carlos Abrams-Rivera. “We delivered net sales growth across each of our key pillars, Global Foodservice, Emerging Markets, and U.S. Retail GROW Platforms. We laid out action plans early in 2023 to drive market share and volume improvement – and they worked. We also executed well against our efficiency program, unlocking and powering it in large part with our tech-enabled Agile@Scale methodology. Thanks to these digital advancements and new ways of working, we were able to reinvest dollars across the business to drive future growth. We also strengthened our balance sheet, ending the year at our target Net Leverage of approximately 3.0x, while executing against our new share repurchase program and maintaining a competitive dividend.”