Yahoo Finance Kellanova (K) Reports Q2: Everything You Need To Know Ahead Of Earnings
Packaged foods company Kellanova (NYSE:K) will be announcing earnings results tomorrow before market hours. Here's what to expect.
Kellanova beat analysts' revenue expectations by 1.3% last quarter, reporting revenues of $3.2 billion, down 4.2% year on year. It was a decent quarter for the company, with an impressive beat of analysts' organic revenue growth estimates.
Is Kellanova a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Kellanova's revenue to decline 6.1% year on year to $3.15 billion, a reversal from the 5.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.90 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Kellanova has missed Wall Street's revenue estimates six times over the last two years.
Looking at Kellanova's peers in the shelf-stable food segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Mondelez posted flat year-on-year revenue, missing analysts' expectations by 1.3%, and McCormick reported flat revenue, in line with consensus estimates. McCormick traded up 4.8% following the results.
Read our full analysis of Mondelez's results here and McCormick's results here.
There has been positive sentiment among investors in the shelf-stable food segment, with share prices up 3.4% on average over the last month. Kellanova's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $62.7 (compared to the current share price of $57.12).
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