Here's Why WK Kellogg Stock is Down 8% Despite Q3 Earnings Beat
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WK Kellogg's Q3 earnings and net sales exceeded expectations but showed a year-over-year decline. Despite this, the company raised its 2024 adjusted EBITDA growth forecast. The stock is down 8%.
November 11, 2024 | 1:30 pm
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WK Kellogg's Q3 earnings and net sales exceeded expectations but declined year over year. The company raised its 2024 adjusted EBITDA growth forecast, yet the stock fell 8%.
The stock price drop is likely due to the year-over-year decline in earnings and net sales, which overshadowed the positive news of exceeding expectations and raising the 2024 EBITDA forecast. Investors may be concerned about the declining trend.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100