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Kraft Heinz Company Reports 181M Boost in Third Quarter 2022 Results; Miguel Patricio Comments

Kraft Heinz Company Reports 181M Boost in Third Quarter 2022 Results; Miguel Patricio Comments


PITTSBURGH, PA & CHICAGO, IL
Wednesday, October 26th, 2022

Growth and development are on the table for Kraft Heinz Company as the specialty company detailed strong results for its 2022 third quarter. In its latest financial results, the company reported $6,505 million in net sales, $181 million more than its 2021 results from the same period.

Miguel Patricio, Chief Executive Officer and Chair of the Board, Kraft Heinz Company“We delivered another quarter of strong results as we continue to successfully navigate a volatile environment,” said Kraft Heinz Chief Executive Officer and Chair of the Board Miguel Patricio. “We are driving net sales growth across both North America and International segments, fueled by each of our three pillars of growth: our GROW platforms in North America, Foodservice, and Emerging Markets. At the same time, the consumer remains our top priority. We’re dedicated to providing solutions for consumers by leveraging the power of our brands to deliver on value at a time when consumers need it most. I’m very proud of what we have been able to deliver thus far, but our work continues. 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.”

Kraft’s net sales increased 2.9 percent versus the year-ago period to $6,505 million. Organic net sales increased 11.6 percent versus the prior year period, whereas the price increased 15.4 percentage points versus the prior year period.

In its latest financial results, Kraft Heinz Company reported $6,505 million in net sales, $181 million more than its 2021 results from the same period

As noted in the results, the company continues to expect strong financial performance for 2022 and reaffirms 2022 organic net sales growth of a high-single-digit percentage increase versus the prior year period. The company also now expects 2022 Adjusted EBITDA to be $5.9 billion to $6.0 billion as compared to the prior expectation of $5.8 billion to $6.0 billion

To learn more about Kraft Heinz’s growth, click here.

Deli Market News will continue to report on the latest in specialty, dairy, and deli, so stay tuned.

Kraft Heinz Company
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