Newly spun-off WK Kellogg beats revenue estimates on strong cereal demand
Reuters
Published Nov 08, 2023 08:31AM ET
(Reuters) - WK Kellogg (NYSE:K) Co, the recently spun-off North American cereal business of Kellanova, beat Wall Street targets for third-quarter sales on Wednesday, as demand for its products withstood higher prices.
Home to cereal brands including Kellogg's, Froot Loops and Rice Krispies, WK Kellogg reported sales of $692 million for the quarter ended Sept. 30, compared with analysts' expectations of $666.3 million, according to LSEG data.
The company also forecast full-year 2023 adjusted sales in the range of $2.72 billion to $2.74 billion, slightly ahead of its prior guidance.
Kellanova, formerly called Kellogg, also posted better-than-expected quarterly net sales of $3.94 billion.
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Written By: Reuters
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