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Dec 30, 2023
Kellogg's Q4 2023 Earnings Report
WK Kellogg Co announced strong fourth quarter and full year 2023 financial results and increased 2024 EBITDA guidance.
Key Takeaways
WK Kellogg Co reported a 3.7% decline in net sales for the fourth quarter, with a reported net income of $15 million, a 109.9% increase year-over-year. The company's standalone adjusted EBITDA was $53 million, a 43.2% increase year-over-year. The company increased its 2024 EBITDA guidance.
Full year 2023 reported net sales increased 2.5% year-over-year.
Full year 2023 standalone adjusted net sales grew 2.8%.
Full year 2023 net income increased 540.0% year-over-year.
The Company increased its 2024 EBITDA guidance from the outlook provided on the Q3 earnings call.
Kellogg's
Kellogg's
Forward Guidance
WK Kellogg Co projects 2024 Adjusted Net Sales growth to be (1.0)% to 1.0% and 2024 Adjusted EBITDA growth to be 3.0% to 5.0%.