1257 ET - Kellanova's management took on a bullish tone in their 1Q earnings call that stands in stark contrast to the cautiousness that peers in the consumer-packaged goods industry have espoused about the low-income consumer, TD Cowen analysts say in a research note. They're giving the snack maker credit where it's due: Kellanova's 5.4% organic sales growth in 1Q outpaced many of the top CPG multinationals, including Mondelez, Procter & Gamble and PepsiCo. The strong growth provides some ballast to the company's rationale for spinning off its U.S. cereal business, now known as WK Kellogg, the analysts say. (dean.seal@wsj.com)
(END) Dow Jones Newswires
May 03, 2024 12:57 ET (16:57 GMT)
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