4 October 2024
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Market + Management

WK Kellogg: announces Q4 and FY-2023 financial results

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 fourth quarter and full year 2023, and increased 2024 Ebitda guidance. Highlights:

  • Full year 2023 reported net sales of USD 2,763 million, increased 2.5 percent year-over-year.
  • Full year 2023 standalone adjusted net sales of USD 2,739 million, delivered at the high end of guidance, and grew 2.8 percent driven by revenue growth management initiatives and continued commercial reactivation.
  • Full year 2023 net income was USD 110 million, which led to standalone adjusted Ebitda margin of 9.4 percent, exceeding guidance.
  • The Company increased its 2024 Ebitda guidance from the outlook provided on the Q3 earnings call.

«I’m pleased to report we delivered our financial guidance for 2023,» said Gary Pilnick, Chairman and Chief Executive Officer of WK Kellogg Co. «Our team is executing, driving results, and building momentum to unlock our unique value proposition. As an independent company, we are already experiencing the benefits of greater strategic focus and operational flexibility as we aim our organization, capital, and resources towards delivering on our strategic objectives.»

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

20240214-WK-KLG-Q42023.


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