logo
  

Kraft Heinz Raises Long-term Growth Targets

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Salt Lake City, Utah-based Creminelli Fine Meats is recalling around 4,207 pounds of ready-to-eat or RTE parmesan salami sticks citing misbranding and an undeclared allergen, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced. The recall involves 2.6-oz. plastic pouches containing "CREMINELLI FINE MEATS salami minis UNCURED ITALIAN SALAMI PARMESAN" with "BES The U.S. Food and Drug Administration is proposing a rule that will broaden the range of nonprescription or over-the counter drugs available to consumers. The rule titled, "Nonprescription Drug Product with an Additional Condition for Nonprescription Use," is intended to increase options for the development of safe and effective nonprescription drugs. The U.S. Food and Drug Administration announced that Australian organic infant formula and baby food producer, Bellamy's Organic, has agreed to send around 696,000 cans of general formula milk to the United States to meet the supply shortage. Under the FDA's enforcement discretion to source more infant formula to the U.S., the available Bellamy's Organic products include about 1.4 million pounds.
Follow RTT