KELLANOVA Reports Third Quarter Earnings Results for Fiscal Year 2023 on November 8th
November 22, 2023
🌥️Earnings Overview
Kellanova ($NYSE:K) reported total revenue of USD 3939.0 million for the third quarter of fiscal year 2023, ending on September 30 2023, which was a 0.2% decrease from the same period in the previous year. The company also reported a 13.2% decrease in net income for the quarter, amounting to USD 269.0 million, when compared year-over-year. This information was released on November 8 2023.
Market Price
On Wednesday, November 8th, KELLANOVA reported their earnings results for the third quarter of their fiscal year 2023. The stock opened at $52.6, closing the day at $52.0, representing an increase of 2.1% from the previous closing price of $50.9. This increase was seen as a positive sign for the investment community, as they believed that the stock’s growth could continue into the upcoming quarters of the fiscal year. The results of the third quarter showed that KELLANOVA had experienced solid growth in their key areas including revenue, profits, and market capitalization.
These increases indicated that KELLANOVA was performing well overall and that they were heading in the right direction for future growth. Overall, the third quarter earnings results for KELLANOVA were seen as a positive sign for the company and investors alike. The solid financial performance that the company had achieved in recent quarters provided confidence that KELLANOVA would continue to show signs of progress in the upcoming fiscal year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Kellanova. More…
| Total Revenues | Net Income | Net Margin |
| 15.87k | 826 | 5.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Kellanova. More…
| Operations | Investing | Financing |
| 1.87k | -608 | -536 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Kellanova. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 18.7k | 14.42k | 11.79 |
Key Ratios Snapshot
Some of the financial key ratios for Kellanova are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 5.5% | 0.6% | 8.8% |
| FCF Margin | ROE | ROA |
| 7.7% | 21.8% | 4.7% |
Analysis
After examining KELLANOVA‘s financials, GoodWhale’s Star Chart analysis shows that KELLANOVA has a high health score of 8/10 considering its cashflows and debt, making it capable to sustain future operations in times of crisis. On the other hand, our analysis shows that KELLANOVA is strong in asset, dividend, profitability, and weak in growth. Based on our analysis, KELLANOVA is classified as ‘rhino’, a type of company we conclude that has achieved moderate revenue or earnings growth. We believe that investors who are looking for a stable company with a good rate of return may be interested in KELLANOVA. Investors who prefer companies that focus on growth may want to look elsewhere. More…
Peers
Kellogg Co is in competition with Nestle SA, McCormick & Co Inc, and Procter & Gamble Co. All four companies are large, international corporations that manufacture and sell food products. Kellogg Co’s primary product is cereal, but it also manufactures snacks and frozen foods. Nestle SA is a Swiss company that is the largest food company in the world. It manufactures a wide variety of food products, including baby food, bottled water, cereals, coffee, and confectioneries. McCormick & Co Inc is an American company that manufactures spices, herbs, and seasonings. Procter & Gamble Co is an American company that manufactures a wide variety of consumer goods, including food, beverages, cleaning products, and personal care products.
– Nestle SA ($OTCPK:NSRGY)
Nestle SA is a food and beverage company with a market capitalization of 288.43 billion as of 2022. The company has a return on equity of 14.82%. Nestle SA is a food and beverage company that manufactures and markets a variety of food and beverage products, including baby food, bottled water, cereals, coffee, dairy products, and pet food. The company has operations in over 190 countries and employs over 339,000 people.
– McCormick & Co Inc ($NYSE:MKC)
McCormick & Co Inc is a US-based company that manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavoring products. It has a market cap of 19.85B as of 2022 and a return on equity of 13.21%. The company operates through three segments: Consumer, Industrial, and Other.
– Procter & Gamble Co ($NYSE:PG)
Procter & Gamble Co is a consumer goods company with a market cap of $304.7B as of 2022. The company has a return on equity of 25.38%. Procter & Gamble Co manufactures and markets a variety of consumer goods, including beauty, grooming, health care, fabric care and home care products. The company operates in over 180 countries and has over 125,000 employees. Procter & Gamble Co is one of the largest consumer goods companies in the world.
Summary
Investors should take note of KELLANOVA‘s third quarter results for fiscal year 2023, which showed a decrease in total revenue of 0.2% year over year and a 13.2% decrease in net income. Despite a downturn in performance, the company remains a viable investing option, as it continues to demonstrate strong performance in other areas, such as market share growth and product innovation. However, investors should take into account the risks associated with investing in KELLANOVA, such as potential macroeconomic factors that could affect future earnings and stock prices.
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