WK Kellogg Co. (KLG) shares soared 7.11% in pre-market trading on Tuesday, despite the company reporting slightly lower-than-expected earnings and revenue for the fourth quarter of fiscal 2024.
The cereal and snack food company posted fiscal Q4 earnings per share of $0.21, missing analysts' consensus estimate of $0.22 per share. Kellogg's net sales for the quarter came in at $640 million, falling short of the FactSet estimate of $644.9 million.
Despite the slight miss on earnings and revenue, investors appear to be reacting positively to other aspects of Kellogg's results or guidance. The company's management may have provided an optimistic outlook for the coming quarters, or the market may be focusing on potential growth opportunities or cost-saving initiatives.
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