© Reuters. Kellogg’s cold cereal products are pictured in a market after Kellogg Company announced it would split into three independent companies, in the latest U.S. corporate overhaul aimed at simplifying its structure and sharpening its focus on the snack busine
(Reuters) – WK Kellogg (NYSE:) Co, the recently spun-off North American cereal business of Kellanova, beat Wall Street targets for third-quarter sales on Wednesday, as demand for its products withstood higher prices.
Home to cereal brands including Kellogg’s, Froot Loops and Rice Krispies, WK Kellogg reported sales of $692 million for the quarter ended Sept. 30, compared with analysts’ expectations of $666.3 million, according to LSEG data.
The company also forecast full-year 2023 adjusted sales in the range of $2.72 billion to $2.74 billion, slightly ahead of its prior guidance.
Kellanova, formerly called Kellogg, also posted better-than-expected quarterly net sales of $3.94 billion.
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