Kellanova raises FY 2024 organic net sales growth to 3.5% and adjusted EPS forecast to $3.65-$3.75.

Kellanova, the food company that spun off from Kellogg's, has raised its FY 2024 organic net sales growth forecast to at least 3.5% from 3% or higher, and its adjusted EPS forecast range is now $3.65 to $3.75, up from $3.55 to $3.65. The company reported Q2 net sales of $3.19bn, surpassing analysts' expectations of $3.15bn, and expects adjusted operating profit to range from $1.875bn to $1.9bn, up from the previous guidance of $1.85bn to $1.9bn. Despite a 4.7% YoY decrease in net sales to $3.19bn for the period ending 29 June, the improvements in other markets and return to volume growth in two regions, with Pringles being a key driver of sales, supported the growth.

July 31, 2024
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