Kellanova reports Q3 adjusted EPS $1.03, consensus 83c

Reports Q3 reported net revenue $3.94B, consensus $3.62B. “We are proud to complete our final quarter as Kellogg Company with a solid financial performance, even amidst challenging industry conditions and the execution of the spin-off of our North America cereal business,” said Steve Cahillane, Kellanova’s Chairman, President and CEO. “Our restoration of profit margins continued, and our advantaged brands and markets delivered top-line growth in line with our long-term targets even as industry-wide price elasticities continued to rise. Our brands are strong, our profitability is improving, and our free cash flow and balance sheet give us financial flexibility, positioning us well as we launch into the Kellanova era.”