Kellanova reported strong Q2 2024 results with operating profit rising 18% to $493 million, despite net sales declining 4.7% to $3.19 billion due to currency impacts and the Russia divestiture. Organic net sales grew 4%, driven by improved volume growth in key regions and strong performance of Pringles brand.The company demonstrated significant margin improvement with adjusted operating profit increasing 13.3% to $502 million, while adjusted EPS rose 12.2% to $1.01. Performance was supported by enhanced commercial activities, including double-digit increase in brand building investment, while maintaining profit margin expansion.Based on strong first-half results, Kellanova raised its full-year 2024 guidance, now projecting organic net sales growth of 3.5%+ (up from 3%), adjusted operating profit of $1.875-1.9 billion, and adjusted EPS of $3.65-3.75. Free cash flow is expected to exceed $1 billion, with operating cash flow forecasted above $1.7 billion.

Kellanova reported strong Q2 2024 results with operating profit rising 18% to $493 million, despite net sales declining 4.7% to $3.19 billion due to currency impacts and the Russia divestiture. Organic net sales grew 4%, driven by improved volume growth in key regions and strong performance of Pringles brand.The company demonstrated significant margin improvement with adjusted operating profit increasing 13.3% to $502 million, while adjusted EPS rose 12.2% to $1.01. Performance was supported by enhanced commercial activities, including double-digit increase in brand building investment, while maintaining profit margin expansion.Based on strong first-half results, Kellanova raised its full-year 2024 guidance, now projecting organic net sales growth of 3.5%+ (up from 3%), adjusted operating profit of $1.875-1.9 billion, and adjusted EPS of $3.65-3.75. Free cash flow is expected to exceed $1 billion, with operating cash flow forecasted above $1.7 billion.