KHC Q4 2022 Earnings Report — The Kraft Heinz Company Revenue & Financial Results | Market Cap Arena

The Kraft Heinz CompanyKHC

Q4 2022 Earnings

Reported February 16, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2022	Q3 2022	Q4 2021	QoQ Change	YoY Change
Revenue	$7.4B	$6.5B	—	13.5%	—
Op. Income	$1.2B	$751M	—	63.2%	—
Gross Margin	32.0%	28.3%	—	3.7pp	—
Net Margin	12.1%	6.6%	—	5.4pp	—
EPS (Diluted)	$0.72	$0.35	—	105.7%	—
Free Cash Flow	$668M	$532M	—	25.6%	—

Revenue Flow

Item	Amount
REVENUE	$7.4B
Cost of Revenue	$5.0B
GROSS PROFIT	$2.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.1B
SG&A Expenses	$1.1B
Other Expenses	$18M
Operating Expenses	$1.1B
Cost & Expenses	$6.2B
OPERATING INCOME	$1.2B
Interest Income	$9M
Interest Expense	$217M
Other Income/Expenses	-$175M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$164M
Net Income from Continuing Ops	$887M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$890M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$890M
D&A	$248M
EBIT	$1.3B
EBITDA	$1.5B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$7.4B
Cost of Revenue	$5.0B
GROSS PROFIT	$2.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.1B
SG&A Expenses	$1.1B
Other Expenses	$18M
Operating Expenses	$1.1B
Cost & Expenses	$6.2B
OPERATING INCOME	$1.2B
Interest Income	$9M
Interest Expense	$217M
Other Income/Expenses	-$175M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$164M
Net Income from Continuing Ops	$887M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$890M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$890M
D&A	$248M
EBIT	$1.3B
EBITDA	$1.5B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$887M
Depreciation & Amortization	$248M
Stock-Based Compensation	$41M
Deferred Income Tax	-$94M
Other Non-Cash Items	-$75M
Change in Working Capital	-$55M
OPERATING CASH FLOW	$952M
Capital Expenditure	-$284M
Acquisitions (Net)	$108M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$123M
NET CASH FROM INVESTING	-$53M
Net Debt Issuance	-$281M
Common Stock Repurchased	$0
Common Dividends Paid	-$490M
Other Financing Activities	-$132M
NET CASH FROM FINANCING	-$903M
FREE CASH FLOW	$668M
Net Change in Cash	$43M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.0B
Short-Term Investments	$0
Net Receivables	$2.1B
Inventory	$3.7B
Other Current Assets	$846M
TOTAL CURRENT ASSETS	$7.9B
PP&E (Net)	$6.7B
Goodwill	$30.8B
Intangible Assets	$42.6B
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$2.4B
TOTAL NON-CURRENT ASSETS	$82.6B
TOTAL ASSETS	$90.5B
Account Payables	$4.8B
Short-Term Debt	$837M
Deferred Revenue	$0
Other Current Liabilities	$2.3B
TOTAL CURRENT LIABILITIES	$9.0B
Long-Term Debt	$19.2B
Deferred Revenue NC	$1.5B
Deferred Tax Liabilities	$10.2B
Other Non-Current Liabilities	$1.8B
TOTAL NON-CURRENT LIABILITIES	$32.6B
TOTAL LIABILITIES	$41.6B
Common Stock	$12M
Additional Paid-In Capital	$51.8B
Retained Earnings	$489M
Treasury Stock	-$847M
Accum. Other Comp. Income	-$2.8B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$48.7B
Minority Interest	$192M
TOTAL EQUITY	$48.9B
TOTAL LIABILITIES & EQUITY	$90.5B
Total Debt	$20.1B
Net Debt	$19.0B