Group 1: Earnings Performance - Kellanova reported quarterly earnings of $0.90 per share, missing the Zacks Consensus Estimate of $0.98 per share, and down from $1.01 per share a year ago, representing an earnings surprise of -8.16% [1] - The company posted revenues of $3.08 billion for the quarter ended March 2025, missing the Zacks Consensus Estimate by 0.78%, and down from $3.2 billion year-over-year [2] - Over the last four quarters, Kellanova has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] Group 2: Stock Performance and Outlook - Kellanova shares have increased by about 2.2% since the beginning of the year, while the S&P 500 has declined by -5.3% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is $1.01 on revenues of $3.2 billion, and for the current fiscal year, it is $3.91 on revenues of $12.85 billion [7] Group 3: Industry Context - The Consumer Products - Discretionary industry, to which Kellanova belongs, is currently in the bottom 22% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Kellanova's stock performance [5] - The estimate revisions trend for Kellanova is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, suggesting it may underperform the market in the near future [6]

Financial Performance - Reported net sales for Q1 2025 were $3,083 million, a decrease of 3.6% compared to $3,200 million in Q1 2024[7] - Organic net sales increased by 0.7% year on year, reaching $3,222 million, despite category softness[6] - Reported operating profit rose by 9.3% to $430 million, primarily due to lapping prior-year restructuring charges[7] - Adjusted operating profit decreased by 13.1% to $441 million, reflecting higher costs and adverse business mix[7] - Reported diluted earnings per share increased by 11.5% to $0.87, driven by higher operating profit and a lower effective tax rate[7] - Net income attributable to Kellanova was $304 million, representing a 13.9% increase from $267 million in the same quarter last year[35] - Basic earnings per share rose to $0.88, compared to $0.78 for the same quarter in 2024, reflecting a 12.8% increase[35] - Reported gross profit for the quarter was $1,059 million, with a gross margin of 34.3%, compared to $1,030 million and 32.2% in the same quarter of 2024[46][48] - Adjusted operating profit for the quarter was $441 million, with a reported operating margin of 13.9%, up from $393 million and 12.3% in the prior year[51][54] - The company reported diluted earnings per share (EPS) of $0.87 for the quarter, compared to $0.78 in the same quarter of 2024, reflecting a growth of 11.6%[59] Cash Flow and Assets - Year-to-date net cash provided by operating activities was $116 million, down from $366 million in the prior year[12] - Free cash flow for the year-to-date was $(60) million, a decrease of $269 million from the previous year[12] - Cash and cash equivalents at the end of the period decreased to $330 million from $694 million at the beginning of the period[38] - The company reported a net cash used in investing activities of $152 million, compared to $333 million in the same period last year[37] - Total assets decreased to $15,474 million from $15,628 million at the end of the previous quarter[38] - Current liabilities decreased to $4,341 million from $4,660 million at the end of the previous quarter[38] - Long-term debt increased to $5,027 million from $4,998 million at the end of the previous quarter[38] - The company's total debt liabilities decreased from $5,743 million in December 2024 to $5,617 million in March 2025, resulting in a net debt of $5,287 million[63] Regional Performance - North America's reported net sales decreased by 4% due to volume decline in snacking and frozen categories[16] - Latin America's reported net sales decreased by 15% year on year, significantly impacted by negative foreign currency translation[18] - North America Snacks reported a net sales decline of 5.0%, while Frozen products saw a slight increase of 0.3% in the first quarter of 2025 compared to 2024[62] - Latin America Snacks experienced a significant decline of 8.9%, and Cereal products dropped by 18.6% in net sales for the same period[62] Currency Impact - The foreign currency impact on reported net sales was a decrease of $138 million, affecting various regions including North America and AMEA[43] - Currency-neutral adjusted EPS was $0.93, showing a decline of 7.9% compared to the previous year[59] - The company evaluates operating results on a currency-neutral basis to assess the impact of foreign currency translation on financial performance[68] Acquisition and Costs - The pending acquisition by Mars, Incorporated is expected to close within the first half of 2025, with shareowners approving the transaction[3] - Separation costs related to the company's transaction amounted to $5 million for the quarter ended March 29, 2025, down from $12 million in the prior year[65] - Network optimization efforts incurred pre-tax charges of $6 million in the first quarter of 2025, significantly lower than the $101 million recorded in the same quarter of 2024[66] - Proposed merger costs related to the acquisition agreement with Mars resulted in pre-tax charges of $6 million for the quarter ended March 29, 2025[67] - Pre-tax mark-to-market gains were recorded at $4 million for the quarter ended March 29, 2025, compared to $12 million for the same quarter in 2024[64]

Core Viewpoint - Kellanova is expected to report a decline in quarterly earnings and revenues, with analysts predicting earnings of $0.98 per share and revenues of $3.13 billion, reflecting decreases of 3% and 2.1% year-over-year respectively [1] Financial Estimates - The consensus EPS estimate for the quarter has remained unchanged over the last 30 days, indicating analysts' reassessment of their forecasts [1] - Analysts project 'Net sales- Latin America' at $285.85 million, a decrease of 9% from the prior-year quarter [4] - 'Net sales- Europe' is estimated at $586.27 million, reflecting a decline of 2.1% year-over-year [4] - 'Net sales- North America' is expected to reach $1.66 billion, indicating a decrease of 1.5% from the previous year [4] - 'Net sales- AMEA' is forecasted at $571.91 million, suggesting a year-over-year decline of 4.7% [5] Growth Metrics - Total reported growth for Latin America is expected to be -8.9%, down from 10.9% in the same quarter last year [5] - 'Net sales - Latin America - Forex impact - YoY change' is projected at -12.4%, compared to 5.7% a year ago [5] - 'Net sales - AMEA - Price / mix impact - YoY change' is estimated at 11.7%, down from 19.4% in the same quarter last year [6] - 'Net sales - Europe - Price / mix impact - YoY change' is expected to be 2.3%, compared to 9.5% a year ago [6] - 'Net sales - North America - Price / mix impact - YoY change' stands at -0.8%, down from 4.8% year-over-year [7] - 'Net sales - Consolidated - price / mix impact - YoY change' is projected at 2.4%, compared to 8.5% in the previous year [7] Profitability Estimates - 'Adjusted Operating Profit / (loss)- Latin America' is expected to be $20.94 million, down from $25 million year-over-year [8] - 'Adjusted Operating Profit / (loss)- Europe' is projected at $98.12 million, slightly up from $98 million in the same quarter last year [8] Stock Performance - Kellanova shares have experienced a change of -0.1% over the past month, compared to a -0.8% move in the Zacks S&P 500 composite [9] - The company holds a Zacks Rank 4 (Sell), indicating expectations of underperformance relative to the overall market [9]

Core Insights - The grocery shopping landscape has undergone significant changes, necessitating leaders who are adept in omnichannel strategies that integrate online, in-store, mobile, and social commerce [2][3] - Cornell University's Omnichannel Leadership Program, in collaboration with industry leaders like Kellanova, aims to equip professionals with the necessary skills to navigate this transformation [3][4] Program Overview - The Omnichannel Leadership Program is now in its fourth year and has trained 136 professionals from 54 different companies, addressing the skills gap in omnichannel leadership [5][6] - The program features a combination of cutting-edge research from Cornell faculty and practical applications from industry leaders, ensuring a rigorous and actionable learning experience [5][6] Unique Features - The program limits attendance to 50 participants to foster deep discussions and meaningful networking opportunities [6] - The curriculum is updated annually to include the latest trends such as AI, customer experience, data analytics, and ESG, providing participants with relevant best practices [6] - Participants earn the Omnichannel Leadership Certificate from the Cornell SC Johnson College of Business, enhancing their credentials [6] Future Directions - The 2025 Omnichannel Leadership Program will take place from June 23-26 at Cornell Tech in New York City, focusing on AI-driven commerce, data analytics, and next-generation customer engagement strategies [7] - Kellanova emphasizes the importance of investing in its workforce as a means to secure the future of the industry, showcasing the value of collaboration between academia and industry [8] Company Profile - Kellanova is a leader in global snacking, international cereal and noodles, and North America frozen foods, with net sales of approximately $13 billion in 2024 [9] - The company aims to create better days and promote sustainable and equitable food access, targeting to impact 4 billion people by 2030 [10]

Core Viewpoint - Kinross Gold Corporation announced a temporary suspension of mill operations at Tasiast due to a fire that occurred on April 14, 2025, which has been fully extinguished, with no reported injuries and mining operations continuing as planned [1][2]. Group 1: Incident Details - The fire was localized in the SAG discharge area, and the company is currently investigating the cause and assessing the damage and potential impact on operations [2]. - Critical spare parts are available on site, and the company does not expect to change its guidance for Tasiast despite the incident [2]. Group 2: Company Overview - Kinross Gold Corporation is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile, and Canada, focusing on responsible mining, operational excellence, disciplined growth, and balance sheet strength [3].

Wendy's is offering even more ways to love Frosty with new sauces and mix-ins, including OREO cookie pieces and Pop-Tarts Crunchy Poppers piecesDUBLIN, Ohio, April 10, 2025 /PRNewswire/ -- Wendy's® is reimagining the famous Frosty® with new ways to experience the beloved frozen treat! Fans can enjoy a fresh take on Frosty with the introduction of Frosty Swirls™, which feature new sauces, and Frosty Fusions™, which include sauces and various sweet treat mix-ins such as Pop-Tarts® and OREO® cookies. Fans can ...

As consumer behaviors and expectations evolve, successful brands must refresh their approach to meet consumers where they are. Kellanova SVP and Chief Growth Officer, Charisse Hughes, shares insights into the company's strategies for reaching diverse audiences with advanced analytics and AI, creating evergreen relevance and growth. CHICAGO, April 1, 2025 /PRNewswire/ -- In an era where innovation is the key to staying competitive, Kellanova's IT team is integrating our existing systems and embracing cutting ...

The classic marshmallow treat just got even more decadent with two new fan-inspired flavorsCHICAGO, March 26, 2025 /PRNewswire/ -- Nothing unlocks childlike joy quite like a Rice Krispies Treats® bar and now the brand is turning up the indulgence with all-new Rice Krispies Treats Bliss bars. For the first time, the iconic marshmallow treat will feature multiple toppings – including a salty snack – to create a delicious multi-textural experience complete with a satisfying crunch. It's a sweet-and-salty match ...

Proposed Amendments will not become operative and the Mars Guarantee will not be issued unless and until the Acquisition is consummated MCLEAN, Va., March 11, 2025 /PRNewswire/ -- Mars, Incorporated ("Mars" or the "Company") announced that, in connection with its previously announced consent solicitations (the "Consent Solicitations") in respect of the outstanding series of senior notes of Kellanova (collectively, the "Existing Kellanova Notes") set forth in the table below, it has received the Requisite Co ...

Annual recognition honors organizations committed to business integrity through robust ethics, compliance, and governance programsCHICAGO, March 11, 2025 /PRNewswire/ -- Kellanova has received the 2025 World's Most Ethical Companies® recognition by Ethisphere, a global leader in defining and advancing the standards of ethical business practices.Previously, Kellogg Company was recognized 16 times prior to the spin-off in 2023. Kellanova is one of 136 companies recognized on this year's list, spanning across ...