Kellogg’s CEO Gary Pilnick advised shoppers chalking up more of their paychecks to soaring grocery bills than they have in the past three decades to just eat cereal instead.“The cereal category has always been quite affordable, and it tends to be a great destination when consumers are under pressure,” Pilnickan said in an interview with CNBC last week.“If you think about the cost of cereal for a family versus what they might otherwise do, that’s going to be much more affordable.”CNBC host Carl Quintanilla a ...

In celebration of National Pancake Day, the brand best known for waffles unveils a one-of-a-kind rental property—larger-than-life stack of flapjacks—bookable exclusively on HomeToGo.com  CHICAGO, Feb. 26, 2024 /PRNewswire/ -- Wake up and smell the pancakes! From the brand whose pancakes pack the same punch as their iconic waffles, comes this humble ab-ode to flapjacks. Eggo® is celebrating its other favorite breakfast staple with the ultimate Eggo experience in honor of National Pancake Day on Feb. 28. T ...

Customer Concentration - Kellanova reported that its largest customer, Wal-Mart Stores, Inc., accounted for approximately 15% of consolidated net sales during 2023, with the top five customers collectively accounting for about 26% of consolidated net sales[40]. Research and Development - Research and development expenditures for Kellanova were approximately $116 million in 2023, compared to $111 million in 2022 and $117 million in 2020[43]. Social Responsibility and Goals - Kellanova aims to nourish 1.5 billion people with nutrient-rich foods and feed 400 million people facing food insecurity by the end of 2030, based on a 2015 baseline[18]. - The company has been making progress on its Better Days™ Promise since 2009, focusing on sustainable and equitable access to food for 4 billion people by 2030[16]. Product and Market Presence - The company manufactures its principal products in 21 countries and markets them in over 180 countries, focusing on snacks and convenience foods[13]. - Kellanova's products are marketed under well-known brands such as Kellogg's, Cheez-It, and Pringles, with significant distribution through direct sales forces and broker arrangements[14]. Environmental and Risk Management - The company has implemented initiatives to mitigate environmental risks related to climate change and food security, which are assessed as part of its overall enterprise risk management[21]. Equity, Diversity, and Inclusion - Kellanova's commitment to equity, diversity, and inclusion includes aspirations for gender parity at the management level globally and 25% representation of People of Color in the U.S. management by the end of 2025[27]. - The company has received recognition from leading organizations for its commitment to equity, diversity, and inclusion, including Diversity Inc. and the Human Rights Campaign[49]. - Kellanova is committed to equity, diversity, and inclusion, with eight Business Employee Resource Groups aimed at attracting diverse talent and fostering a supportive environment[47]. Employee Development and Wellbeing - Kellanova invests in ongoing leadership development programs for future and experienced managers, as well as executive leadership training[50]. - The company offers a competitive compensation package, including salary, annual incentives, and benefits that promote employee well-being[52]. - Kellanova's global employee wellbeing framework, "My Total Health," addresses physical, financial, social, and emotional wellbeing[53]. - The company has a strong focus on health and wellness, providing resources such as mental health support and gym access[53]. Leadership and Governance - Kellanova's Chairman and CEO, Steven A. Cahillane, has been in his role since October 2017, previously serving in senior positions at The Coca-Cola Company[61]. - The company maintains a Code of Conduct and Global Code of Ethics, with regular training and an ethics hotline for reporting concerns[54]. - The company’s leadership team includes experienced executives with diverse backgrounds in various industries, enhancing the company's strategic direction[56]. Financial Performance and Risks - The consolidated assets of the Nigerian business represented approximately 5% of total consolidated assets as of December 30, 2023, down from 8% as of December 31, 2022[345]. - Net sales from the Nigerian business accounted for 8% of consolidated net sales year-to-date as of December 30, 2023, but this percentage may decrease if exchange rates persist or decline further in 2024[345]. - The company recorded translation losses of approximately $141 million due to the devaluation of the Nigerian Naira, recognized in other comprehensive income[346]. - The total notional amount of foreign currency derivative instruments at year-end 2023 was $4.8 billion, with a net settlement obligation of $21 million[348]. - The total notional amount of interest rate swaps at year-end 2023 was $2.3 billion, representing a net settlement obligation of $93 million[350]. - The total notional amount of commodity derivative instruments at year-end 2023 was $201 million, with a settlement obligation of less than $1 million[353]. - The company expects input cost inflation to be flat during 2024, despite experiencing elevated commodity and supply chain costs in the fiscal year ended December 30, 2023[352]. - The company had posted collateral of $59 million as of December 30, 2023, compared to $9 million as of December 31, 2022[357]. - A one percentage point increase in interest rates would have increased interest expense by approximately $14 million at year-end 2023[350]. - Assuming a 10% decrease in year-end commodity prices, the settlement obligation would have increased by $11 million at year-end 2023[355].

CHICAGO, Feb. 16, 2024 /PRNewswire/ -- Kellanova (NYSE: K) today announced that its Board of Directors declared a dividend of $0.56 per share on the common stock of Kellanova, payable on March 15, 2024, to shareowners of record at the close of business on March 1, 2024. The ex-dividend date is February 29, 2024. This is the 397th dividend that Kellanova, previously Kellogg Company, has paid to owners of common stock since 1925.  About Kellanova Kellanova (NYSE: K) is a leader in global snacking, internation ...

Kellanova donates $50,000 to support the national grocer's Feed the Love hunger relief campaign CHICAGO, Feb. 14, 2024 /PRNewswire/ -- For the fourth year in a row, Kellanova and Albertsons Companies, one of the largest food and drug retailers in the United States, are teaming up to show love to the communities they serve and address the ongoing issue of hunger and food insecurity. Kellanova is donating $50,000 to Albertsons Cos. Foundation's Nourishing Neighbors charitable program benefiting the hunger-rel ...

First-of-its-kind partnership gives more Black farmers access to technical assistance and educationCHICAGO, Feb. 13, 2024 /PRNewswire/ -- In 1920, approximately 14 percent of farmers in the United States were Black. Today, according to the latest estimates from the U.S. Department of Agriculture, only 1.3 percent of America's almost 3.4 million farmers are Black*. National Black Growers Council members. Image courtesy of NBGC. Recognizing this disparity in farming equity, Eggo® is entering into a partne ...

1 Forward-Looking Statements 3 50% International | --- | --- | |---------------------------------------------|-------| | | | | Delivering Results | | | ➢ Executed transformational spin-off | | | ➢ In line with guidance | | | ➢ Above-algorithm top-line growth | | | ➢ Continued restoration of profit margins | | | | | | ➢ Above-algorithm profit growth | | | ➢ Strong free cash flow and balance sheet | | | | | • Normalizing category elasticities – peak during 1H…and then begin to lap 2 OF 21 Differentiated Portf ...

Kellanova (NYSE:K) Q4 2023 Earnings Conference Call February 8, 2024 9:30 AM ET Company Participants John Renwick – Vice President of Investor Relations and Corporate Planning Steve Cahillane – Chairman, President and Chief Executive Officer Amit Banati – Vice Chairman and Chief Financial Officer Conference Call Participants Chris Carey – Wells Fargo Tom Palmer – Citi Rob Dickerson – Jefferies Max Gumport – BNP Paribas Michael Lavery – Piper Sandler Ken Goldman – JPMorgan Operator Good morning. Welcome to K ...

Kellanova (K) delivered fourth-quarter 2023 results for the company that formerly operated as Kellogg Company. The company’s top and bottom line increased year over year and surpassed the Zacks Consensus Estimate in the quarter. Results gained from a focus on revenue growth management and sustained momentum across emerging markets. K’s shares were up more than 1.5% in the pre-market trading session on Feb 8.Quarter in DetailKellanova reported adjusted earnings of 78 cents per share, increasing 21.9% year ov ...

Kellanova (K) reported $3.17 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 17.2%. EPS of $0.78 for the same period compares to $0.94 a year ago.The reported revenue represents a surprise of +2.67% over the Zacks Consensus Estimate of $3.09 billion. With the consensus EPS estimate being $0.74, the EPS surprise was +5.41%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine thei ...