- Kellogg Co.
- 11 February 2025 15:31:56
Source: Sharecast
The Michigan-based company said adjusted EBITDA totalled $57m for the three months to 28 December, up 7.5% on last year, with adjusted earnings per share of 42 cents coming in comfortably above the 25 cents expected by the market.
That meant that full-year adjusted EBITDA improved by 3% to $275m, topping the guidance range provided by the manufacturer.
Sales, however, were down 1.8% year-on-year at $640m, missing the $645m estimate, which the company blamed on the "ongoing challenging business environment", as well as a weakening CAD-USD exchange rate.
Full-year reported sales were down 2% on 2023 at $2.71bn.
Looking ahead, WK Kellogg pointed to a 1% decline in organic net sales in 2025, but 4-6% growth in full-year adjusted EBITDA – ahead of current analysts' predictions.
However, the company noted that the 2025 guidance doesn't include any potential impact from trade tariffs on Mexican and Canadian imports into the US, as recently announced by the Trump administration.
Shares were 1.2% higher at $16.44 by 1029 in New York.