Why Kraft Heinz's Plans and Outlook Have Its Shares Trading Higher
After releasing a fresh outlook and strategic transformation plan, food and beverage giant Kraft Heinz (NASDAQ: KHC) saw its stock trade more than 2% higher before hours today, an upward trend that continued once markets opened. The press release was issued ahead of the company's third-quarter 2020 earnings release and conference call, scheduled for late October.
Among the savory details, Kraft Heinz says it's now confident enough in its rebound to provide "long-term growth targets." It is now forecasting earnings per share (EPS) growth of 4% to 6%, along with adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) growth of 2% to 3%, and 1% to 2% organic net sales increases.
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Source Fool.com
