Kraft Heinz Boosts FY23 Adj. EPS Outlook - Update

(RTTNews) - While reporting financial results for the first quarter on Wednesday, Kraft Heinz Co. (KHC) raised its adjusted earnings guidance for the full-year 2023, while reaffirming annual organic net sales growth outlook.

For fiscal 2023, the company now projects adjusted earnings in a range of $2.83 to $2.91 per share, up from the prior forecast range of $2.67 to $2.75 per share. The Company also reaffirmed its organic net sales growth outlook of 4 to 6 percent.

On average, 17 analysts polled by Thomson Reuters expected the company to report earnings of $2.72 per share for the year. Analysts' estimates typically exclude special items.

Separately, the Company's Board of Directors declared a regular quarterly dividend of $0.40 per share of common stock, payable on June 30, 2023 to stockholders of record as of June 6, 2023.

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