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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.
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%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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