Kellanova Reaffirms Guidance
Portfolio Pulse from Benzinga Newsdesk
Kellanova reaffirmed its 2024 financial guidance, initially provided in August 2023, maintaining its projections despite adverse foreign exchange rates and industry volume pressures. The company expects organic net sales growth of 3% or better, an adjusted operating profit of $1,850-1,900 million, adjusted EPS of $3.55-3.65, and a free cash flow of approximately $1.0 billion, driven by priority snacks brands and emerging markets expansion, particularly with Pringles.
May 02, 2024 | 12:03 pm
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Kellanova reaffirms its 2024 financial guidance, projecting organic net sales growth, stable operating profit, and EPS, alongside significant cash flow from operations, despite market challenges.
Reaffirming financial guidance, especially in the face of adverse conditions, signals management confidence in Kellanova's business strategy and operational resilience. This positive reaffirmation, particularly maintaining projections for sales growth, operating profit, and earnings per share, is likely to be viewed favorably by investors, potentially leading to a short-term positive impact on the stock price. The emphasis on expanding Pringles capacity in emerging markets also highlights a strategic growth area that could further bolster investor confidence.
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