Kellogg Company Unveils Strategies And Financial Outlooks For Kellanova And WK Kellogg Co At Investor Day; Starts 9:00 A.M. On August 9
Portfolio Pulse from Benzinga Newsdesk
Kellogg Company plans to separate into Kellanova (NYSE:K) and WK Kellogg Co (NYSE:KLG) by Q4 2023. Kellanova will focus on snacks and emerging markets, projecting net sales of $13.4-13.6 billion and adjusted EBITDA of $2.25-2.3 billion in 2024. WK Kellogg Co will focus on North American cereal, projecting net sales of $2.7 billion and adjusted EBITDA of $255-265 million in 2024. WK Kellogg Co also plans to improve its EBITDA margins by 500 basis points by 2026.
August 09, 2023 | 11:37 am
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POSITIVE IMPACT
Kellogg Company's split into Kellanova and WK Kellogg Co could lead to growth opportunities for Kellanova in snacks and emerging markets.
The split will allow Kellanova to focus on growth-oriented sectors like snacks and emerging markets, which could potentially increase its profitability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
WK Kellogg Co, post-split from Kellogg Company, plans to focus on North American cereal and improve its EBITDA margins by 500 basis points by 2026.
The split will allow WK Kellogg Co to focus on its core business of North American cereal and improve its profitability through supply chain modernization.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100