NASDAQ$KHC
Kraft Heinz Co · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Kraft Heinz's financial performance declined due to industry headwinds and the impact of a 53rd week in the prior year, but the company is optimistic about future growth.
Kraft Heinz reported a decrease in net sales and net income for Q4 2023, impacted by a 53rd week in the prior year and industry headwinds. However, the company is optimistic about future growth, expecting positive contributions from price and volume improvements in the second half of 2024.
- Net sales decreased by 7.1%, with organic net sales down by 0.7%.
- Gross profit margin increased by 180 basis points to 33.8%.
- Net income decreased by 14.6% to $757 million.
- Adjusted EPS was $0.78, down 8.2%.
Headline financials
Revenue & EPS history
Kraft Heinz · Revenue · Quarterly
$6.86B
Revenue by segment
Kraft Heinz · $5B total across 1 segment · Q3 2023
- North America$5B-0.4%100.0%
Forward guidance
For fiscal year 2024, the Company expects Organic Net Sales growth of 0 to 2 percent, Adjusted Operating Income growth of 2 to 4 percent, and Adjusted EPS growth of 1 to 3 percent, or in the range of $3.01 to $3.07.
Tailwinds
- Positive contribution from price throughout the year
- Volumes inflecting positive in the second half of the year
- Adjusted Gross Profit Margin is expected to expand modestly, in the range of 25 to 75 basis points versus the prior year.
- Adjusted EPS growth of 1 to 3 percent, or in the range of $3.01 to $3.07.
- The Company expects an effective tax rate on Adjusted EPS to be in the range of 20 to 22 percent.
Headwinds
- Organic Net Sales growth of 0 to 2 percent versus the prior year.
- Adjusted Operating Income growth of 2 to 4 percent versus the prior year.
- The Company expects an unfavorable impact of approximately $45 million within interest and other expense/(income) versus the prior year.
- This is primarily driven by foreign currency headwinds and debt refinancing that will come at a higher rate.
- The outlook does not include the possibility of additional share buyback in 2024.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
-1.1%
Avg return
Earnings day
-1.1%
Avg return
5 days after
-2.7%
Avg return
30 days after
40%
21 / 53 earnings
Positive
+14.4%
Q3 2019
Best reaction
-27.6%
Q4 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.1% | +3.3% | +0.3% | |
| Q4 2025 | +0.4% | -0.4% | -9.3% | |
| Q3 2025 | -4.1% | -4.7% | -0.0% | |
| Q1 2025 | +0.2% | -0.6% | -6.2% | |
| Q4 2024 | -3.2% | -2.2% | +2.2% | |
| Q3 2024 | -3.9% | -4.1% | -8.1% | |
| Q2 2024 | +4.6% | +4.0% | +4.7% | |
| Q1 2024 | -4.9% | -7.4% | -8.4% | |
| Q4 2023 | -3.2% | -3.7% | -4.9% | |
| Q3 2023 | +6.5% | +5.8% | +12.9% | |
| Q2 2023 | -0.9% | -2.5% | -9.2% | |
| Q1 2023 | +3.5% | +4.1% | -2.4% | |
| Q4 2022 | -0.3% | +0.3% | -5.6% | |
| Q3 2022 | +2.6% | +3.8% | +5.0% | |
| Q2 2022 | -3.8% | -3.1% | -1.4% | |
| Q1 2022 | +3.1% | -0.8% | -10.6% | |
| Q4 2021 | +9.0% | +10.9% | +8.5% | |
| Q3 2021 | +0.1% | +0.8% | -4.4% | |
| Q2 2021 | -5.1% | -4.2% | -8.0% | |
| Q1 2021 | +2.9% | +5.6% | +8.6% | |
| Q4 2020 | +4.4% | +4.3% | +12.5% | |
| Q3 2020 | +4.7% | +8.8% | +12.4% | |
| Q2 2020 | -3.3% | -1.4% | -1.9% | |
| Q1 2020 | -3.8% | -5.2% | -0.2% | |
| Q4 2019 | -10.5% | -9.0% | -20.2% | |
| Q3 2019 | +14.4% | +15.5% | +7.0% | |
| Q2 2019 | -14.2% | -15.9% | -11.6% | |
| Q1 2019 | -14.2% | -15.9% | -11.6% | |
| Q4 2018 | -27.6% | -31.4% | -33.1% | |
| Q3 2018 | -7.7% | -2.7% | -7.0% | |
| Q2 2018 | +4.9% | +1.5% | -1.9% | |
| Q1 2018 | -1.3% | +5.6% | +3.5% | |
| Q4 2017 | -5.5% | -7.2% | -10.1% | |
| Q2 2013 | -5.5% | -7.2% | -10.1% | |
| Q3 2017 | +0.9% | -0.4% | +5.0% | |
| Q2 2017 | -0.2% | -0.8% | -6.9% | |
| Q1 2017 | +0.8% | +0.5% | +5.1% | |
| Q4 2016 | -3.9% | +6.4% | +1.3% | |
| Q3 2016 | -4.7% | +0.2% | -8.2% | |
| Q2 2016 | +4.6% | +5.7% | +5.5% | |
| Q1 2015 | +5.0% | — | — | |
| Q1 2016 | +5.5% | — | — | |
| Q4 2015 | +6.6% | — | — | |
| Q3 2014 | -5.5% | — | — | |
| Q3 2015 | -5.0% | — | — | |
| Q1 2013 | -0.6% | — | — | |
| Q2 2014 | -0.6% | — | — | |
| Q1 2014 | -0.6% | — | — | |
| Q4 2012 | -0.6% | — | — | |
| Q4 2014 | -0.6% | — | — | |
| Q4 2013 | -0.6% | — | — | |
| Q3 2013 | -0.6% | — | — | |
| Q2 2015 | -0.6% | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — | |
| Q4 2011 | — | — | — | |
| Q3 2011 | — | — | — | |
| Q2 2011 | — | — | — | |
| Q1 2011 | — | — | — |
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