WK Kellogg CoNYSE: KLG

The U.S. has become a nation defined by its taste for all things gourmet, be it high-end coffee or imported olive oil. But what trends will define the future of food?

On May 7, 2024, WK Kellogg Co (NYSE: KLG, $21.77, Market Capitalization $1.9 billion), a top producer of branded ready-to-eat cereals in the U.S., Canada, and Caribbean, announced positive 1Q24 results with higher adjusted EPS than expected. 1Q24 adjusted net sales decreased by 0.8% compared to the same period last year. For further details, please visit spinoffresearch.com.

WK Kellogg Co (NYSE: KLG) will be holding a conference call on Tuesday, May 7, 2024, at 9:30 a.m. in Battle Creek, Michigan.

Gary Pilnick, WK Kellogg co-chairman and CEO, joins 'Squawk on the Street' to discuss the consumer share of income spent on food, what's landing well with the consumer, and Pilnick's conversations with clients like Walmart and Target.

The cereal maker's revenue and bottom line went in opposite directions in its fourth quarter. It beat on revenue but fell just short on profitability.

WK Kellogg Co. (KLG) Q4 2023 Earnings Call Transcript

WK Kellogg impressed investors with its first financial report as a standalone company after it was spun off from Kellanova, formerly known as the Kellogg Company (NYSE:K), in October. Shares of the cereal giant - whose brands include Kellogg's, Frosted Flakes, Froot Loops, Mini-Wheats, Special K, Raisin Brand, Rice Krispies, Corn Flakes, and Kashi – moved higher as WK Kellogg's third quarter revenue and earnings topped estimates, up 3.5% at US$10.83.

WK Kellogg received a lukewarm welcome from Wall Street when it went public last month, causing it to plunge as it struggled to gain support. The company has declared its first dividend and will report its first financial earnings this week.

Reconstitution occurs when an index provider, such as Standard & Poor's, reassesses and rebalances a benchmark to maintain the most accurate representation of capitalization and style. Once complete, it leads to the removal and addition of companies, a shift that can significantly impact stock buying and selling activity.