Pringles, Pop-Tarts Parent Kellanova Beats Estimates, Lifts Outlook

Shares of Pringles and Pop-Tarts genitor Kellanova (K) roseate successful intraday trading Thursday arsenic nan cereal and snack nutrient shaper reported better-than-expected results and raised its guidance, boosted by North and Latin American demand.

The institution formerly known arsenic Kellogg, which split successful two successful October, posted second-quarter earnings per stock (EPS) of $1.00, $0.11 supra nan mean of analysts surveyed by Visible Alpha.

Revenue fell 4.7% year-over-year to $3.19 cardinal but it besides exceeded forecasts. The institution blamed nan driblet connected "adverse rate translator and nan 2023 divestiture of its business successful Russia." It added that organic revenue grew 4.0% and "remained wrong its semipermanent target range."

North American income gained 0.7%, "driven by a return to measurement growth," which accrued 2.0%. Latin America income and measurement besides advanced, but they fell successful Europe and successful nan Asia Pacific, Middle East, and Africa region. 

Kellanova Boosts FY Adjusted EPS Guidance

Kellanova explained that because of a stronger-than-expected first half, it was lifting its full-year adjusted EPS outlook to a scope of $3.65 to $3.75, compared to nan earlier $3.55 to $3.65. It sees integrated gross expanding by 3.5% aliases more, versus its erstwhile prediction of a emergence of astatine slightest 3%.

Shares of Kellanova roseate almost 5% to $60.90 arsenic of 2:20 p.m. ET Thursday and person added 9% year-to-date.