On Tuesday, WK Kellogg Co. (KLG) announced a net income of $15 million, or $0.18 per share, for the fourth quarter, a notable return to profit compared to a net loss of $152 million, or $1.77 per share, in the same quarter of the previous year.
However, the company's net sales for the quarter fell to $651 million, down from $676 million in the corresponding quarter last year.
Various market analysts had predicted the company would report earnings of $0.21 per share on revenues of approximately $645.87 million for this quarter. It is worth noting that these estimations generally do not include any special items.
Looking ahead to the fiscal year 2024, WK Kellogg Co. has revised its forecasts. The company now anticipates that adjusted net sales will range from a 1% drop to a 1% rise, with an anticipated Adjusted EBITDA growth of 3.0% to 5.0%. At present, market expectations suggest a decline in net sales of 1.2% to $2.70 billion for the year.
