Company Participants Andre Maciel - Executive Vice President, Global Chief Financial Officer Anne-Marie Megela - Head of Global Investor Relations Andrew Lazar - Barclays John Baumgartner - Mizuho Cody Ross - UBS Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Anne-Marie Megela, Head of Global Investor Relations. Please see the cautionary statement and risk factors contained in todayÂ's earnings release, which accompanies this ...

The Kraft Heinz Company (NASDAQ:KHC) Evercore ISI 3rd Annual Consumer and Retail Conference June 15, 2023 1:15 PM ET Company Participants Andre Maciel - EVP & Global CFO Anne-Marie Megela - VP, Head of Global Investor Relations Conference Call Participants David Palmer - Evercore ISI David Palmer Good afternoon, everybody, on day 3 of the Evercore ISI Consumer Conference. I'm excited -- this is our final fireside chat, and I'm excited to have Kraft Heinz with us, Andre Maciel, Executive VP and Global Chief ...

Kraft Heinz Co (NASDAQ:KHC) Annual Deutsche Bank Global Consumer Conference Call June 7, 2023 8:45 AM ET Company Participants Andre Maciel - EVP & Global CFO Rafael de Oliveira - EVP & Zone President, International Markets Carlos Abrams-Rivera - EVP & President, North America Conference Call Participants Steve Powers - Deutsche Bank Steve Powers All right, everybody. Welcome back. Thank you. And thanks, especially Kraft Heinz, for returning to the conference. We've got a full stage here today. So I want to ...

The Kraft Heinz Company (NASDAQ:KHC) Bernstein's 39th Annual Strategic Decisions Conference 2023 Call June 1, 2023 1:30 PM ET Company Participants Miguel Patricio - Chief Executive Officer Conference Call Participants Alexia Howard - Bernstein Alexia Howard Good afternoon, everyone. I'm Alexia Howard with Bernstein covering the U.S. food sector. And it's my very great pleasure to be joined by Miguel Patricio, the CEO of Kraft Heinz since 2019. I think it's no understatement to say that Kraft Heinz was kind ...

The Kraft Heinz Company (KHC) Q1 2023 Earnings Conference Call May 3, 2023 9:00 AM ET Anne-Marie Megela - Head of Global Investor Relations Miguel Patricio - Chief Executive Officer Andre Maciel - Executive Vice President and Global Chief Financial Officer Carlos Abrams-Rivera - Executive Vice President and President, North America Zone Rafael Oliveira - International Zone President Bryan Spillane - Bank of America Andrew Lazar - Barclays Ken Goldman - JPMorgan Jason English - Goldman Sachs John Baumgartner ...

The Kraft Heinz Company (NASDAQ:KHC) 2023 CAGNY Conference Call February 21, 2023 11:00 AM ET Company Participants Miguel Patricio - CEO Carlos Abrams-Rivera - EVP and President, North America Rafael de Oliveira - EVP and Zone President, International Markets Andre Maciel - EVP and Global CFO Conference Call Participants Jonathan Feeney - Consumer Edge Research Jonathan Feeney Welcome. If you can all find your seats, please. I'm Conference Co-Chair, Jonathan Feeney. I want to add my welcome to 2023 CAGNY. I ...

The Kraft Heinz Company (NASDAQ:KHC) Q4 2022 Earnings Conference Call February 15, 2023 9:00 AM ET Company Participants Anne-Marie Megela - Head of Global Investor Relations Miguel Patricio - Chief Executive Officer Andre Maciel - Executive Vice President and Global Chief Financial Officer Carlos Abrams-Rivera - Executive Vice President and President, North America Zone Rafael Oliveira - International Zone President Conference Call Participants Andrew Lazar - Barclays Bryan Spillane - Bank of America Chris ...

Financial Performance - The Kraft Heinz Company reported net sales of approximately $26 billion for the fiscal year 2022, marking a commitment to grow its food and beverage brands globally[14]. - Consolidated net sales for the year ended December 31, 2022, were $26.5 billion, a 1.7% increase from $26.0 billion in 2021[159]. - Organic net sales increased 9.8% to $26.2 billion in 2022, driven by higher pricing (13.2 pp) that offset unfavorable volume/mix (3.4 pp)[161]. - Net income for 2022 was $2.4 billion, a 131.3% increase compared to $1.0 billion in 2021, attributed to lower interest expense and improved operating income[164]. - Operating income rose 5.0% to $3.6 billion in 2022, supported by higher pricing and lower non-cash impairment losses[163]. - Adjusted EBITDA decreased 5.8% to $6.0 billion in 2022, impacted by higher supply chain costs and unfavorable volume/mix[166]. - Diluted EPS increased 132.9% to $1.91 in 2022, compared to $0.82 in 2021, primarily driven by the increase in net income[167]. Sales and Market Dynamics - In 2022, the five largest customers in the North America segment accounted for approximately 46% of net sales, with Walmart Inc. representing about 21% of total net sales[29]. - Net sales by platform for 2022 showed that "Taste Elevation" accounted for 31%, "Fast Fresh Meals" for 23%, and "Easy Meals Made Better" for 20% of consolidated net sales[31]. - The product category "Condiments and sauces" contributed 31% to consolidated net sales in 2022, while "Cheese and dairy" accounted for 15%[32]. - The company reported that retail consolidation may lead to fewer but larger customers, impacting pricing and promotional strategies[62]. - The company derives significant portions of its sales from key customers, and any changes in purchasing behavior could materially affect product sales and financial condition[65]. Cost and Supply Chain Challenges - The company experienced higher commodity and supply chain costs in 2022, largely due to inflationary pressures, and expects these costs to continue to rise through 2023[25]. - Inflationary pressures led to increased commodity and supply chain costs, which are expected to continue through 2023[156]. - The company utilized commodity futures, options, and swaps to hedge against fluctuations in input costs, which may cause volatility in gross profit and net income[104]. - The company has implemented foreign currency hedges to reduce exposure to changes in foreign currency exchange rates, but these strategies may not be fully effective[100]. - Commodity, energy, and other input prices are volatile, which could materially and adversely affect the company's cost of operations and financial condition[101]. Employee and Management Insights - The company has approximately 37,000 employees globally as of December 31, 2022, emphasizing a commitment to employee engagement and retention[42]. - As of December 31, 2022, 41% of employees in management positions globally identified as women, and 28% of salaried employees in the U.S. identified as people of color[50]. - The global women's accelerator program, The WE Network, won a Brandon Hall Gold Award for Best Advance in Leadership Development for Women in 2022[47]. - The company aims for 50% of global management positions to be filled by women and 30% of salaried U.S. employees to identify as people of color by 2025[46]. - The company's Total Rewards strategy includes flexible programs for compensation, healthcare, and employee recognition to promote a high-performance culture[48]. Innovation and Product Development - Kraft Heinz's research and development focuses on product innovation and sustainability to meet changing consumer needs and drive growth[28]. - The company’s growth depends on the successful development and marketing of innovative new products and line extensions[61]. - Maintaining and expanding brand image is essential for success, with investments in marketing and product innovation being crucial[68]. Regulatory and Compliance Risks - The company faces significant regulatory risks that could lead to increased compliance costs and potential legal claims[106]. - The company is currently under examination by the IRS for income taxes for the years 2018 and 2019, which may result in additional U.S. tax expense[128]. - Changes in tax laws and interpretations may adversely affect the company's business and effective tax rate[127]. - The company may face significant damages or injunctions related to third-party claims of intellectual property infringement, which could divert management's attention and resources[89]. Financial Position and Debt Management - The company has a substantial amount of indebtedness, which could adversely affect its business and financial condition if it cannot generate sufficient cash flow or refinance its debt on favorable terms[93][94]. - Long-term debt decreased from $21.8 billion at December 25, 2021, to $20.1 billion at December 31, 2022, primarily due to repayments totaling approximately $1.4 billion[202]. - The company paid dividends of $2.0 billion annually for 2020, 2021, and 2022, with a cash dividend of $0.40 per share declared for Q1 2023[205]. - The Senior Credit Facility has a revolving commitment of $4.0 billion, with the possibility to increase by up to $1.0 billion under certain conditions[199]. - The company was in compliance with all financial covenants as of December 31, 2022[201]. Global Operations and Market Exposure - Approximately 30% of the company's 2022 net sales were generated outside the United States, exposing it to global operational risks[85]. - The company derives a substantial portion of its net sales from international markets, exposing it to foreign exchange rate fluctuations that could significantly affect its results of operations[100]. - The company is exposed to risks related to political and economic instability in the countries where it operates, which could impact its operations and financial results[91]. - The company reported a net cash provided by operating activities of $2.5 billion for 2022, down from $5.4 billion in 2021, primarily due to higher cash outflows for inventories and lower adjusted EBITDA[189]. Acquisitions and Divestitures - In 2022, the company completed the acquisition of Companhia Hemmer Indústria e Comércio and Just Spices GmbH, both in the International segment[150]. - The company divested its business-to-business powdered cheese business in 2022, which is not considered a strategic shift[150].

The Kraft Heinz Company (NASDAQ:KHC) Q3 2022 Results Conference Call October 26, 2022 9:00 AM ET Company Participants Anne-Marie Megela - Head of Global Investor Relations Miguel Patricio - Chief Executive Officer Andre Maciel - Executive Vice President and Global Chief Financial Officer Carlos Abrams-Rivera - Executive Vice President and President, North America Zone Rafael Oliveira - International Zone President Conference Call Participants Andrew Lazar - Barclays Ken Goldman - JPMorgan Bryan Spillane - B ...

The Kraft Heinz Company (NASDAQ:KHC) 2022 Barclays Global Consumer Staples Conference September 7, 2022 9:45 AM ET Company Participants Carlos Abrams-Rivera – EVP and President, North America Zone Miguel Patricio – CEO & Chairman Andre Maciel – Global CFO Conference Call Participants Andrew Lazar – Barclays Andrew Lazar Thanks everybody and welcome back to our fireside chat with Kraft Heinz. With me today are CEO, Miguel Patricio; CFO, Andre Maciel; and EVP and President of North America Zone, Carlos Abrams ...