Chicago / IL. (knc) Kellanova announced results for its first quarter of 2024, and reaffirmed its full-year outlook. Highlights:
- While net sales in the first quarter were negatively impacted by adverse currency translation and the 2023 divestiture of its business in Russia, the Company’s organic-basis growth remained at the upper end of its long-term target range.
- Double-digit operating profit growth was sustained, as the Company continued to restore profit margins faster than expected.
- Earnings per share again increased at a double-digit rate, reflecting the higher operating profit.
- The Company again reaffirmed its 2024 guidance, calling for net sales and operating profit growth rates that align with its long-term targets, and unchanged absolute-dollar guidance for adjusted-basis operating profit, adjusted-basis earnings per share, net cash provided by operating activities, and free cash flow.
For additional information please read the Company’s PDF file below (152 KB):
20240506-KELLANOVA-Q12024.