Chicago / IL. (knc) Kellanova announced results for its third quarter of 2024. Pending Transaction: As announced in August, Mars Incorporated and Kellanova had entered into a definitive agreement under which Mars has agreed to acquire Kellanova for USD 83.50 per share in cash. The transaction is subject to Kellanova shareowner approval and other customary closing conditions, including regulatory approvals, and is still expected to close within the first half of 2025. Highlights of Q3-2024:
- While net sales in the third quarter were negatively impacted by adverse currency translation, the Company’s organic-basis growth was above 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 continued their double-digit growth momentum owing to higher operating profit.
- Due to the pending merger with Mars Incorporated, Kellanova will not be providing forward- looking guidance.
«Our strong third-quarter results reflect once again our strategy and more growth-oriented and profitable portfolio as Kellanova,» said Steve Cahillane, Chairman, President and Chief Executive Officer. «This performance is also a testament to the talent and engagement of a Kellanova organization that is executing at a high level as we prepare for our exciting next chapter as part of a global snacking powerhouse with Mars.» For additional information please read the Company’s PDF file below (163 KB):
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