Kraft Heinz Sets Long-term Growth Targets - Quick Facts

(RTTNews) - While unveiling a transformation of the Company on Tuesday, Kraft Heinz Co. (KHC) updated its financial outlook for the third quarter and full-year 2020. It also established a long-term financial profile.

For the third quarter and fiscal 2020, the company now projects organic net sales growth in the mid-single-digit percentage range.

Kraft Heinz also set long-term growth targets. It projects long term organic net sales growth of 1 to 2 percent and adjusted earnings per share growth of 4 to 6 percent.

The new strategy, operating model and key initiatives signal a fundamental shift in its approach to growing its brands and its business at a global scale. This will enable Kraft Heinz to return to consistent and sustainable growth.

The new operating model focuses on five primary elements - People with Purpose, Consumer Platforms, Ops Center, Partner Program, and Fuel Our Growth. The company targets $2 billion in gross savings between 2020 and 2024 from efficiencies in Procurement, Manufacturing and Logistics.