Kellanova reported Q3 2024 net sales of $3.23 billion, down 1% year-over-year due to unfavorable foreign currency impacts. Organic net sales grew 6%, driven by increased price/mix and volume. Reported operating profit rose 10% to $456 million, while currency-neutral adjusted operating profit increased 19% to $453 million.Reported diluted EPS jumped 84% to $1.05, benefiting from higher operating profit and a lower effective tax rate. Currency-neutral adjusted diluted EPS grew 19.5% to $0.92. Gross margin expanded 230 basis points to 36.4%, with currency-neutral adjusted gross margin up 100 basis points to 33.9%.The company maintained its full-year outlook and expects the proposed merger with Mars to close in the first half of 2025, subject to shareholder and regulatory approvals. Kellanova continues to focus on productivity improvements, network optimization, and strategic growth initiatives across its global snacks and international cereal businesses.

Kellanova reported Q3 2024 net sales of $3.23 billion, down 1% year-over-year due to unfavorable foreign currency impacts. Organic net sales grew 6%, driven by increased price/mix and volume. Reported operating profit rose 10% to $456 million, while currency-neutral adjusted operating profit increased 19% to $453 million.Reported diluted EPS jumped 84% to $1.05, benefiting from higher operating profit and a lower effective tax rate. Currency-neutral adjusted diluted EPS grew 19.5% to $0.92. Gross margin expanded 230 basis points to 36.4%, with currency-neutral adjusted gross margin up 100 basis points to 33.9%.The company maintained its full-year outlook and expects the proposed merger with Mars to close in the first half of 2025, subject to shareholder and regulatory approvals. Kellanova continues to focus on productivity improvements, network optimization, and strategic growth initiatives across its global snacks and international cereal businesses.