WK Kellogg: Announces Q3-2023 Results and Reaffirms Outlook

Battle Creek / MG. (wkk) WK Kellogg Co, a leading manufacturer, marketer and distributor of branded ready-to-eat cereal in the U.S., Canada, and Caribbean, reported financial results for its third quarter 2023. WK Kellogg Co became an independent, publicly traded company on October 02, 2023. Highlights:

  • We are reaffirming our 2024 financial outlook which we provided at Investor Day, reflecting our strong year-to-date performance and confidence in the outlook.
  • Year-to-date net sales growth of 5 percent reflects good momentum, driven by revenue growth management initiatives and recovery from fire and strike.
  • Year-to-date net income was USD 95 million which led to a standalone adjusted Ebitda margin of 9.9 percent, a 300 basis point improvement demonstrating our ability to regain margin.
«We are off to a strong start and remain confident in our strategy and financial outlook,» said Gary Pilnick, Chairman and Chief Executive Officer. «Our team is executing on plan, we are building momentum, and delivering the consistent results we need to capture our unique margin opportunity. As a standalone company, we have greater strategic focus and operational flexibility, and will direct capital and resources toward unlocking profitable growth and regaining category share.»

For additional information please read the Company’s PDF file below (124 KB):

20231108-WKKELLOGG-Q3-2023.