Kraft Heinz issues soft profit guidance after price increases boost revenue
Publishing timestamp: 2023-02-15 10:30:20
Summary
Kraft Heinz reported earnings and revenue that beat expectations, but issued profit guidance for the year that fell below Wall Street's estimates. The company increased prices by 15.2% and saw a 4.8% decline in volume. Kraft Heinz also launched a campaign protesting the use of Roman numerals ahead of Super Bowl 57.
Sentiment: MIXED
Tickers: PG, CL, KHC, UPS, KO, MDLZ, CLX,
Keywords: kraft heinz co, united parcel service inc, mondelez international inc, food and drink, procter & gamble co, business news, colgate-palmolive co, retail industry, coca-cola co, clorox co,
Source: https://www.cnbc.com/2023/02/15/kraft-heinz-khc-q4-2022-earnings.html