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The Kraft Heinz Company (KHC) reported Q1 2022 results, showing a 5.5% decline in net sales to $6.0 billion, primarily impacted by divestitures and currency fluctuations. However, organic net sales rose 6.8% due to strong pricing, up 9.0%, despite a 2.2% decline in volume/mix. Net income surged by 37.5% to $781 million, with diluted EPS increasing to $0.63. The company raised its full-year organic net sales outlook to a mid-single-digit percentage increase and maintains expectations for Adjusted EBITDA between $5.8 billion and $6.0 billion.
Kraft Heinz introduces HEINZ DIP & CRUNCH, a revolutionary burger condiment that combines a sauce with crisp potato crunchers for an enhanced eating experience. This product aims to fill a gap for consumers seeking a restaurant-style dipping sauce at home. Available in two flavors—traditional and spicy—HEINZ DIP & CRUNCH aims to elevate burger night. Following a successful test in select West Coast restaurants, it is now being launched nationwide in major retailers like Walmart and Target as part of Kraft Heinz’s AGILE@SCALE transformation strategy.
Kraft Heinz and Microsoft have announced a multiyear partnership to enhance innovation in Kraft Heinz's operations, focusing on digital transformation and supply chain efficiency. This initiative represents one of Kraft Heinz's largest technology investments, utilizing Microsoft Azure as its primary cloud platform. The collaboration aims to improve inventory transparency, introduce a Supply Chain Control Tower, and establish digital twins for manufacturing facilities. This move is designed to address recent supply chain challenges and meet growing consumer demand.
The Kraft Heinz Company (Nasdaq: KHC) plans to release its first-quarter 2022 financial results on April 27, 2022, before market opening. A press release and supplementary materials, including a pre-recorded management discussion, will be available. Following the release, Kraft Heinz management will conduct a live Q&A session with analysts starting at 9:00 a.m. EDT. The earnings materials and audio of the Q&A can be accessed via ir.kraftheinzcompany.com. Kraft Heinz reported $26 billion in net sales for 2021.
Kraft Heinz has completed its acquisition of a majority stake in Companhia Hemmer, a Brazilian food company known for condiments and sauces. Approved without restrictions by Brazil's antitrust authority, CADE, this strategic move supports Kraft Heinz's growth in the emerging Brazilian market and enhances its International Taste Elevation platform. The acquisition promises to leverage Hemmer's long-standing market presence and Kraft Heinz's distribution network to accelerate growth for both entities.
The Kraft Heinz Company (KHC) has entered a long-term agreement with Simplot Food Group to become the exclusive manufacturer and supplier of the Ore-Ida brand. Kraft Heinz will retain ownership of Ore-Ida while transferring its Ontario potato manufacturing facility to Simplot. This partnership aims to enhance brand growth through innovation and vertical integration, starting with the 2023/24 crop season. With net sales of approximately $500 million, Kraft Heinz sees significant growth potential for Ore-Ida. The deal aligns both companies' commitment to quality and community.
The Kraft Heinz Company (Nasdaq: KHC) has announced a joint venture with food tech start-up NotCo, aimed at innovating global food production and promoting sustainability. The new entity, The Kraft Heinz Not Company, will utilize NotCo's patented AI technology to create superior plant-based products. This collaboration seeks to accelerate the adoption of plant-based foods, addressing current consumer demands for better taste and variety. The initiative aligns with Kraft Heinz's objective to enhance its product portfolio towards cleaner and greener offerings.
The Kraft Heinz Company (KHC) announced its strategic transformation progress at the CAGNY Conference, aiming to enhance long-term growth. CEO Miguel Patricio highlighted a successful transition to using their scale effectively. Kraft Heinz introduced its AGILE@SCALE initiative, focusing on tech partnerships and digital capabilities. The company increased its long-term growth targets, adjusting organic net sales growth to 2%-3%, adjusted EBITDA growth to 4%-6%, and adjusted EPS growth to 6%-8%. Kraft Heinz anticipates delivering at least $2 billion in gross efficiencies and expects to maintain strong free cash flow.
The Kraft Heinz Company (Nasdaq: KHC) announced the retirement of Chair Alexandre Behring and the intended appointment of CEO Miguel Patricio as Chair, subject to re-election at the 2022 Annual Meeting. Behring's contributions over the years were acknowledged by both Miguel Patricio and Greg Abel of Berkshire Hathaway. Additionally, James Park from Google has been nominated for election to the Board. His experience in technology and digital capabilities is seen as integral to Kraft Heinz's ongoing transformation strategy.
The Kraft Heinz Company (KHC) announced a multi-year strategic partnership with Google to enhance consumer understanding and digital transformation. This collaboration focuses on leveraging Google Cloud's data analytics and AI tools, enabling Kraft Heinz to innovate product development, enhance consumer engagement, and improve marketing efficiency. The company aims to shorten product time-to-market and personalize consumer experiences using insights from its new data platform. This partnership marks a pivotal step in Kraft Heinz's ongoing transformation efforts to meet evolving consumer demands.
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