Kraft Heinz Raises Long-term Growth Targets

(RTTNews) - Kraft Heinz Co. (KHC) increased its long-term growth targets. It raised adjusted earnings per share growth outlook to a range of 6% - 8% from the prior outlook of 4% - 6%. It also increased its organic net sales growth guidance to 2% - 3% from the previous estimation of 1% - 2%.

The company expects to deliver at least $2 billion of gross efficiencies, slightly ahead of its previous commitment, even though recent divestitures removed approximately 15% of its addressable cost base.

The company will reiterate its expectation to deliver 2022 Adjusted EBITDA in the range of $5.8 billion to $6.0 billion, as announced in its fourth quarter and full year 2021 earnings.