Kraft Heinz Stock Gains On Q4 Earnings Beat

• Kraft Heinz Co (NASDAQ:KHC) reported a fourth-quarter FY21 sales decline of 3.3% year-on-year, to $6.71 billion, beating the analyst consensus of $6.61 billion.
• Sales in the U.S. fell 6.8% Y/Y, International rose 6.5%, and Canada increased 5.2%.
• The gross profit decreased by 14.3% Y/Y to $2.2 billion, with the margin contracting 410 points to 32.2%.
• The operating loss for the quarter was $(20) million compared to an income of $1.5 billion last year.
• Adjusted EBITDA fell 10.2% to $1.6 billion.
• Adjusted EPS of $0.79 beat the analyst consensus of $0.63.
• Kraft Heinz held $3.4 billion in cash and equivalents as of December 25, 2021. Net cash provided by operating activities for twelve months increased 8.8% Y/Y to $5.4 billion.
• Outlook: Kraft Heinz expects a low-single-digit percentage increase in 2022 organic net sales, reflecting continued stronger consumption versus pre-pandemic levels.
• Price Action: KHC shares are trading higher by 3.78% at $35.99 on the last check Wednesday.