Kraft Heinz trades higher after higher pricing powers earnings beat
Alex Wong

Kraft Heinz Company (NASDAQ:KHC) gained in early trading on Wednesday after delivering Q3 results ahead of the consensus expectations of analysts.
The food giant reported organic sales jumped 11.6% during the quarter vs. 9.0% consensus, consisting of a 15.4% benefit from pricing and a 3.8% drop in volume/mix. Both the North American and International segments saw double-digits increases in organic sales during the quarter.
Adjusted EBITDA fell 5.5% to $1.398B with the decline attributed to an unfavorable impact from divestitures and acquisitions of 6.1 percentage points and an unfavorable 1.4 percentage point impact from currency.
KHC said that higher pricing and efficiency gains more than offset higher supply chain costs and higher commodity costs during the quarter.
Guidance: The company expects 2022 organic sales growth of a high-single-digit percentage increase. KHC also raised the lower end of its expected full- year adjusted EBITDA range to be $5.9B to $6.0B vs. $5.8B to $6.0B prior. 
"We remain focused on advancing our long-term strategy, and believe we are well-positioned to drive profitable growth and generate attractive returns for our stockholders," noted CEO Miguel Patrico.
Shares of KHC rose 1.17% in premarket trading following the earnings topper.