(Adds Outlook)
Food company Kellanova Co. (K) on Thursday raised its fiscal 2024 outlook, despite reporting weak profit and revenues in its second quarter.
In pre-market activity on the NYSE, Kellanova shares were gaining around 4.1 percent to trade at $60.51.
For fiscal 2024, the company now expects adjusted earnings per share in a range of around $3.65 to $3.75, compared to previously expected around $3.55 to $3.65.
Adjusted operating profit guidance range is raised and narrowed to approximately $1.875 billion to $1.900 billion from previous guidance of approximately $1.850 billion to $1.900 billion.
Organic-basis net sales growth guidance is raised to 3.5 percent or better, from its previous guidance of approximately 3 percent or better. The expected growth remains within the Company's long-term target range, and will continue to be led by the company's priority snacks brands and emerging markets.
Q2 Results
The company's bottom line totaled $344 million, or $1.00 per share. This compares with $357 million, or $1.03 per share, in last year's second quarter.
Excluding items, Kellanova reported adjusted earnings of $1.01 per share for the period.
The company's revenue for the quarter fell 4.7% to $3.192 billion from $3.351 billion last year.
Kellanova earnings at a glance (GAAP) :
-Earnings (Q2): $344 Mln. vs. $357 Mln. last year.-EPS (Q2): $1.00 vs. $1.03 last year.-Revenue (Q2): $3.192 Bln vs. $3.351 Bln last year.
For comments and feedback contact: editorial@rttnews.com
Business News
December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.