WK Kellogg (KLG) shares jumped 12% in recent Thursday trading after the cereal maker reported forecast-beating Q3 adjusted earnings.

The company reported Q3 adjusted earnings of $0.31 per share, down from $0.33 a year earlier.

Analysts polled by Capital IQ expected $0.26.

Net sales for the quarter ended Sept. 28 were $689 million, down from $692 million a year earlier.

Four analysts surveyed by Capital IQ expected $674.2 million.

The company said it continues to expect full-year 2024 adjusted net sales growth to be at the lower end of the provided guidance range of a 1% drop to a 1% increase.

Price: 18.87, Change: +2.03, Percent Change: +12.02