News Formal

WK Kellogg beats profit and revenue estimates in its first earnings update since spinning off from Kellanova

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Steve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.

WK Kellogg Co.’s stock KLG, was up by 2.8% in premarket trading after the cereal company that was formerly part of snack giant Kellanova K, -0.86% said its third-quarter profit rose by 82.6%.

WK Kellogg said its net income increased to $42 million, or 49 cents a share, from $23 million, or 27 cents a share, in the year-ago quarter. WK Kellogg handily beat the FactSet consensus estimate for earnings of 26 cents a share. Revenue dipped by 1.9% to $692 million. Adjusted for the split, sales also fell 1.9% to $684 million, ahead of the analyst expectation of $666.3 million. WK Kellogg became an independent company on Oct. 2.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SMBC discloses $560 million loss in sale of rail car leasing business to ITESteve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
Source: MarketWatch - 🏆 3. / 97 Read more »