Kraft Heinz Continues To Project 2023 Organic Net Sales Growth Of 4% To 6%

(RTTNews) - The Kraft Heinz Company (KHC) reiterated its expectation to deliver 2023 organic net sales growth of 4% to 6% from 2022. Constant currency adjusted EBITDA growth from 2022 to 2023 is still expected to range between 2% to 4%, or 4% to 6% when excluding the impact from the 53rd week in 2022. Adjusted EPS is still expected to be $2.67 to $2.75. The company now expects free cash flow conversion to be approximately 80% in 2023. The company continues to anticipate high single-digit inflation for the year.

For long term, the company increased its gross efficiency target to $2.5 billion.

"As we play at the intersection of food and technology, we see the opportunity for $2 billion in incremental net sales from innovation in North America Retail from 2023 to 2027," said Miguel Patricio, CEO and Board Chair.

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