Food Giant Kellanova Guides For Its First Reporting Period As Stand-Alone Company - What's On The Cards?
Portfolio Pulse from Shivani Kumaresan
Kellanova (formerly Kellogg Company) reported Q3 2023 results with net sales of $3.94 billion, beating the analyst consensus estimate of $3.62 billion. The company completed the separation of its North America cereal business, resulting in two independent companies, Kellanova and WK Kellogg Co. Kellanova provided guidance for Q4 2023, expecting revenue of $3.10 billion and adjusted EPS of $0.73 - $0.76. Kellanova's shares are trading higher by 1.73% at $51.78.
November 08, 2023 | 4:14 pm
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POSITIVE IMPACT
Kellanova reported better than expected Q3 2023 results and provided Q4 guidance. The company's shares are trading higher.
Kellanova's better than expected Q3 results and the positive Q4 guidance are likely to have a positive impact on the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
WK Kellogg Co was mentioned as it became an independent company after the separation of Kellanova's North America cereal business.
The news mentions WK Kellogg Co as it became an independent company after the separation of Kellanova's business. However, there is no specific information about WK Kellogg Co's performance or outlook, so the impact on its stock is neutral.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50