By Kimberly Chin
Kraft Heinz Co. said it will raise its long-term financial growth targets, as it seeks to develop and expand its in-house digital capabilities.
The maker of food products such as Heinz Tomato Ketchup and Kraft Mac and Cheese said it plans to engage in partnerships with technology companies and cutting-edge innovators, and acquire capabilities that can help it scale its portfolio. The company plans to discuss more details of its plans in a presentation at the Consumer Analyst Group of New York conference on Tuesday morning.
The company expects organic net sales to rise by 2% to 3%, compared with its prior projection of 1% to 2% growth.
Kraft expects adjusted per-share earnings to increase by 6% to 8%, up from its prior forecast of 4% to 6% growth. Adjusted earnings before interest, taxes, depreciation and amortization is projected to rise by 4% to 6%, compared with its prior guidance of 2% to 3%.
The company reiterated its adjusted Ebitda outlook between $5.8 billion and $6 billion for 2022.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
02-22-22 0950ET