23 November 2024
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Kellanova Company: Reports 2024 Second Quarter Results

Chicago / IL. (knc) Kellanova announced results for H1-2024, and raised its outlook for the full year.

  • While net sales in the second quarter were negatively impacted by adverse currency translation and the 2023 divestiture of its business in Russia, the Company’s organic-basis growth remained within its long- term target range.
  • Double-digit operating profit growth was sustained, as the Company continued to improve profit margins faster than expected.
  • Earnings per share again increased at a double-digit rate, reflecting the higher operating profit.
  • On the strength of its first-half results, the Company raised its full-year 2024 guidance for organic net sales growth, adjusted-basis operating profit, adjusted-basis earnings per share, net cash provided by operating activities and free cash flow.
«We delivered another strong financial performance in the second quarter. Our top-line growth featured a return to volume growth in two of our Regions, and improvements in other markets, led by our biggest brand Pringles. This was supported by fully restored commercial activity, including a double-digit increase in brand building investment while still improving profit margins,» said Steve Cahillane, Chairman, President and Chief Executive Officer. «This level of performance, which has been sustained since our spin-off last fall, provides clear evidence that Kellanova is a more focused, more growth-oriented, and more profitable Company today.» For additional information please read the Company’s PDF file below (167 KB):

20240805-KELLANOVA-Q22024.


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