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Kellanova | 8-K: Kellanova Reports Strong Third Quarter Results

SEC ·  Oct 31, 2024 20:11

Summary by Moomoo AI

Kellanova delivered strong Q3 2024 results, with organic net sales growing 6.1% YoY to $3.45B, driven by emerging markets. Adjusted operating profit rose 16.1% to $441M, while adjusted EPS increased 18.2% to $0.91.The company continued to improve profit margins faster than expected, with adjusted operating margin expanding to 13.6%. North America saw 27.4% adjusted operating profit growth, while AMEA's currency-neutral adjusted operating profit surged 26.5%.Kellanova reaffirmed its pending $83.50 per share cash acquisition by Mars, with a shareholder vote scheduled for November 1. The deal is expected to close in H1 2025, subject to approvals. Due to the pending merger, Kellanova is not providing forward guidance.
Kellanova delivered strong Q3 2024 results, with organic net sales growing 6.1% YoY to $3.45B, driven by emerging markets. Adjusted operating profit rose 16.1% to $441M, while adjusted EPS increased 18.2% to $0.91.The company continued to improve profit margins faster than expected, with adjusted operating margin expanding to 13.6%. North America saw 27.4% adjusted operating profit growth, while AMEA's currency-neutral adjusted operating profit surged 26.5%.Kellanova reaffirmed its pending $83.50 per share cash acquisition by Mars, with a shareholder vote scheduled for November 1. The deal is expected to close in H1 2025, subject to approvals. Due to the pending merger, Kellanova is not providing forward guidance.
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