WK Kellogg Swings To Profit In Q4; Guides Net Sales Above Estimates

(RTTNews) - WK Kellogg Co. (KLG) reported Tuesday net income for the fourth quarter of $15 million or $0.18 per share, compared to a net loss of $152 million or $1.77 per share in the prior-year quarter.

Net sales for the quarter declined to $651 million from $676 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.21 per share on revenues of $645.87 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, the company now projects adjusted net sales to be between a 1 percent decline and 1 percent growth. Adjusted EBITDA growth is projected to be 3.0 to 5.0 percent. The Street is currently looking for a net sales decline of 1.2 percent to $2.70 billion for the year.

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