Kraft Heinz sees FY23 adjusted EPS $2.67-$2.75, consensus $2.77

The company said, "The Company expects 2023 Organic Net Sales(1)(2) growth of 4 to 6 percent versus 2022. Constant Currency Adjusted EBITDA(1)(2) 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(1)(2) recovery. Adjusted Gross Profit Margin expansion is expected to fund incremental investments across technology, marketing, and people. Adjusted EPS(1)(2) is expected to be $2.67 to $2.75, which includes approximately a $0.04 negative impact from expected unfavorable changes in non-cash pension and post-retirement benefits, and a $0.04 currency headwind at current foreign exchange rates. The expected 2023 year-over-year Adjusted EPS performance reflects a negative $0.06 impact from lapping the 53rd week in 2022."