Kraft Heinz beats Q4 top and bottom line estimates; initiates FY23 outlook
Kraft Heinz press release (NASDAQ:KHC): Q4 Non-GAAP EPS of $0.85  beats by $0.07.
Revenue of $7,381M (+10.0% Y/Y)  beats by $151M.

Outlook: The company expects 2023 Organic Net Sales growth of 4 to 6 percent versus 2022.
Constant Currency Adjusted EBITDA growth from 2022 to 2023 is expected to range between 2 to 4 percent, or 4 to 6 percent when excluding the impact from the 53rd week in 2022.

The Company anticipates high single-digit inflation for the year, with pricing and gross efficiencies contributing to Adjusted Gross Profit Margin recovery. Adjusted Gross Profit Margin expansion is expected to fund incremental investments across technology, marketing, and people.
Adjusted EPS is expected to be $2.67 to $2.75 vs $2.77 consensus.
The expected 2023 year-over-year Adjusted EPS performance reflects a negative $0.06 impact from lapping the 53rd week in 2022.