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.
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