Loading...
•
Sep 28, 2024
Kellogg's Q3 2024 Earnings Report
WK Kellogg Co announced third quarter financial results and raised 2024 adjusted EBITDA guidance.
Key Takeaways
WK Kellogg Co reported a decrease in reported net sales by 0.4% year-over-year but an increase in adjusted net sales by 0.7% year-over-year. The company's adjusted EBITDA grew by 27.5% year-over-year. The company reaffirms 2024 adjusted net sales growth guidance and raises 2024 adjusted EBITDA growth guidance range to 5% to 6%.
Reported net sales decreased 0.4% year-over-year.
Adjusted net sales increased 0.7% year-over-year when compared to standalone adjusted net sales.
Reported net income (loss) decreased 126.2% year-over-year.
Adjusted EBITDA grew 27.5% year-over-year when compared to standalone adjusted EBITDA.
Kellogg's
Kellogg's
Forward Guidance
WK Kellogg Co is reaffirming 2024 adjusted Net Sales growth guidance and raising 2024 adjusted EBITDA growth guidance.
Positive Outlook
- 2024 Adjusted EBITDA growth is now projected to be in the range of 5.0% to 6.0%, up from 3.0% to 5.0%
Challenges Ahead
- 2024 Adjusted Net Sales growth is projected to be at the lower end of the guidance range, (1.0)% to 1.0%