Froot Loops maker WK Kellogg reports downbeat quarterly results on demand decline
(Reuters) -WK Kellogg reported second-quarter results below estimates on Thursday, hurt by soft demand for its packaged breakfast cereal amid macroeconomic uncertainty.
Customers have cut back spending on branded packaged food and are seeking cheaper alternatives at private-label brands amid pressures on consumer spending driven by U.S. President Donald Trump’s fluctuating tariff policies.
The cereal maker agreed to be bought by the Italian owner of Ferrero Rocher in a deal worth around $3.1 billion in July, and the Battle Creek, Michigan-based company continues to expect the deal to close in the second half of 2025.
The company reported earnings per share of 9 cents, below estimates of 24 cents.
Before you buy stock in KLG, consider this: ProPicks AI are 6 easy-to-follow model portfolios created by Investing.com for building wealth by identifying winning stocks and letting them run. Over 150,000 paying members trust ProPicks to find new stocks to buy – driven by AI. The ProPicks AI algorithm has just identified the best stocks for investors to buy now. The stocks that made the cut could produce enormous returns in the coming years. Is KLG one of them?
