Kellanova (K) Tops Q2 EPS by 11c
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Kellanova (NYSE: K) reported Q2 EPS of $1.01, $0.11 better than the analyst estimate of $0.90. Revenue for the quarter came in at $3.19 billion versus the consensus estimate of $3.15 billion.
See the table below that outlines the projected impact of certain other items that are excluded from non-GAAP guidance for 2024:
| Impact of certain items excluded from Non-GAAP guidance: | Net Sales | Operating Profit | Earnings Per Share | ||||||||
| Business and portfolio realignment/separation costs (pre-tax) | $60-$70M | $0.17 - $0.20 | |||||||||
| Network optimization (pre-tax) | $120-$130M | $0.34 - $0.37 | |||||||||
| Income tax impact applicable to adjustments, net** | $0.11 - $0.12 | ||||||||||
| Adjusted guidance * | $1,875-$1,900M | $3.65 - $3.75 | |||||||||
| Organic guidance * | 3.5%+ | ||||||||||
* Guidance for net sales, operating profit, and earnings per share are provided on a non-GAAP basis only because certain information necessary to calculate such measures on a GAAP basis is unavailable, dependent on future events outside of our control and cannot be predicted without unreasonable efforts by the Company. These items for 2024 include impacts of mark-to-market adjustments for pension plans (service cost, interest cost, expected return on plan assets, and other net periodic pension costs are not excluded), commodity contracts, certain equity investments, and certain foreign currency contracts. The Company is providing quantification of known adjustment items where available.
** Represents the estimated income tax effect on the reconciling items, using weighted-average statutory tax rates, depending upon the applicable jurisdiction.
| Reconciliation of Non-GAAP amounts - Free Cash Flow Guidance | |||||
| (billions) | |||||
| Full Year 2024 | |||||
| Net cash provided by (used in) operating activities | $1.7+ | ||||
| Additions to properties | ~ ($0.7) | ||||
| Free Cash Flow | $1.0+ | ||||
For earnings history and earnings-related data on Kellanova (K) click here.
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