(Reuters) – WK Kellogg Co, the recently spun-off North American cereal business of Kellanova, beat Wall Street targets for third-quarter sales on Wednesday, as demand for its products withstood higher prices.
Home to cereal brands including Kellogg’s, Froot Loops and Rice Krispies, WK Kellogg reported sales of $692 million for the quarter ended Sept. 30, compared with analysts’ expectations of $666.3 million, according to LSEG data.
The company also forecast full-year 2023 adjusted sales in the range of $2.72 billion to $2.74 billion, slightly ahead of its prior guidance.
Kellanova, formerly called Kellogg, also posted better-than-expected quarterly net sales of $3.94 billion.
(Reporting by Juby Babu in Bengaluru; Editing by Devika Syamnath)
