NYSE$KLG
WK Kellogg Co · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
WK Kellogg Co reported a net sales decline of 2% and a net income increase of 83% compared to the previous year.
WK Kellogg Co's third quarter results showed a slight decline in net sales but a significant increase in net income. The company reaffirms its 2024 financial outlook, reflecting confidence in its strategy and financial position as a standalone entity.
- Reaffirmed 2024 financial outlook, demonstrating confidence in future performance.
- Year-to-date net sales growth of 5% driven by revenue growth management and recovery from disruptions.
- Year-to-date net income reached $95 million, with a standalone adjusted EBITDA margin of 9.9%.
- Strategic focus and operational flexibility as a standalone company expected to unlock profitable growth.
Headline financials
Revenue & EPS history
Kellogg's · Revenue · Quarterly
$692M
Forward guidance
WK Kellogg Co is providing 2023 guidance slightly ahead of the outlook provided at Investor Day and is reaffirming the 2024 financial outlook. Adjusted Net Sales growth to be approximately flat versus 2023 Adjusted Net Sales.
Tailwinds
- 2023 Standalone Adjusted Net Sales in the range of $2,720 million to $2,740 million
- 2023 Standalone Adjusted EBITDA margin in the range of 9.1% to 9.2%
- 2024 Adjusted EBITDA to be in the range of $255 million to $265 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 10 quarterly earnings reports
+0.3%
Avg return
Earnings day
+3.2%
Avg return
5 days after
+8.2%
Avg return
30 days after
31%
4 / 13 earnings
Positive
+14.2%
Q4 2023
Best reaction
-6.7%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2025 | — | — | — | |
| Q2 2025 | -0.0% | -0.8% | -1.0% | |
| Q1 2025 | +3.2% | -2.1% | -10.0% | |
| Q4 2024 | +3.9% | +21.3% | +23.1% | |
| Q3 2024 | +7.2% | +4.2% | +21.2% | |
| Q2 2023 | -4.1% | -2.0% | +6.3% | |
| Q2 2024 | -4.1% | -2.0% | +6.3% | |
| Q1 2024 | -6.7% | -5.7% | -22.4% | |
| Q1 2023 | -6.7% | -5.7% | -22.4% | |
| Q1 2022 | +0.0% | +8.7% | +38.6% | |
| Q4 2023 | +14.2% | +20.0% | +26.5% | |
| Q4 2022 | -1.0% | +1.9% | +13.3% | |
| Q3 2023 | -1.0% | +1.9% | +13.3% | |
| Q3 2022 | -1.0% | +1.9% | +13.3% | |
| Q2 2022 | — | — | — |
Discussion
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