WK Kellogg Surpasses Q3 Estimates On Strong Demand And Price Hikes

WK Kellogg exceeded Wall Street’s third-quarter revenue and profit forecasts, driven by strong demand for its ready-to-eat cereals like Froot Loops and Apple Jacks, Reuters' Neil J. Kanatt reported.

Despite raising prices, Kellogg achieved higher sales volumes, underscoring strong brand loyalty among U.S. consumers. I Photo: Rept0n1x Wikimedia Commons

Shares of Kellogg rose approximately 10% in premarket trading, as increased pricing and cost-cutting efforts helped boost results. Despite raising prices, Kellogg achieved higher sales volumes, underscoring strong brand loyalty among U.S. consumers.

The company’s performance contrasts with that of other packaged food brands, such as Kraft Heinz and Conagra, which faced weaker sales as consumers shifted to lower-cost options.

While organic volume declined 1.1% in Q3, it was an improvement over the 4.8% drop in the previous quarter. Product pricing rose by 1.8% in Q3, down slightly from a 2.1% increase in Q2.