Kellanova reported Q2 2024 results with organic net sales growth of 4% and reported operating profit up 18% year-over-year. Revenue declined 5% to $3.19 billion due to foreign currency impacts and last year's Russia divestiture. Adjusted operating profit increased 16% on a currency-neutral basis to $516 million.Gross margin expanded 370 basis points to 36.4%, driven by pricing actions, improved supply chain, and productivity gains. By segment, North America sales grew 0.8%, Europe declined 4.5%, Latin America rose 2.3%, while AMEA fell 20.8% due to currency devaluation. The company maintained its full-year organic sales growth outlook of 5-7%.Kellanova generated $740 million in operating cash flow year-to-date, up from $644 million last year. The company paid $383 million in dividends and has $1.3 billion remaining on its share repurchase authorization. Management expressed confidence in the company's financial flexibility and ability to meet operating and investing needs.

Kellanova reported Q2 2024 results with organic net sales growth of 4% and reported operating profit up 18% year-over-year. Revenue declined 5% to $3.19 billion due to foreign currency impacts and last year's Russia divestiture. Adjusted operating profit increased 16% on a currency-neutral basis to $516 million.Gross margin expanded 370 basis points to 36.4%, driven by pricing actions, improved supply chain, and productivity gains. By segment, North America sales grew 0.8%, Europe declined 4.5%, Latin America rose 2.3%, while AMEA fell 20.8% due to currency devaluation. The company maintained its full-year organic sales growth outlook of 5-7%.Kellanova generated $740 million in operating cash flow year-to-date, up from $644 million last year. The company paid $383 million in dividends and has $1.3 billion remaining on its share repurchase authorization. Management expressed confidence in the company's financial flexibility and ability to meet operating and investing needs.