WK Kellogg soars after third-quarter results beat

WK Kellogg Co

07/11/2024 15:23

** Shares of Froot Loops maker WK Kellogg  KLG.N  rise as
much as 12% to $19.78
    ** Stock set for its best day if gains hold
    ** Posts Q3 revenue and profit beat, helped by consumer
demand for its ready-to-eat cereals, despite high prices
    ** Reports Q3 net sales of $689 mln vs. analysts' average
estimates of $674 mln- data compiled by LSEG
    ** Posts Q3 EPS of 31 cents above analysts' estimates of 26
cents
    ** Co says organic volume for the quarter declined 1.1%,
improving from a 4.8% decline the previous quarter, while
product pricing rose 1.8%, down from 2.1% in Q2
    ** Up to Wednesday's close, stock has risen 28% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))