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Kellanova (K) Q2 Earnings Coming Up: Key Factors to Consider
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Kellanova (K - Free Report) is likely to register top-and bottom-line decline when it reports second-quarter 2024 earnings on Aug 1. The Zacks Consensus Estimate for revenues is pegged at $3.2 billion, suggesting a fall of 22.1% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for quarterly earnings has remained unchanged in the past 30 days at 90 cents per share. The projection indicates a decline of 28% from the figure reported in the year-ago period quarter. Kellanova, which formerly operated as Kellogg Company, has a trailing four-quarter earnings surprise of 12.5%, on average.
Things To Consider
Kellanova has been operating amid a complex operating environment characterized by elevated inflation rates. The company is facing major headwinds from industry-wide elasticities, which are putting pressure on volumes, particularly in North America and Europe. Additionally, heightened geopolitical tensions in the Middle East pose a threat to the company’s top-line performance. Kellanova’s international presence also keeps it exposed to risks of unfavorable currency translations. The persistence of these factors is likely to have hurt the company’s performance in the to-be-reported quarter.
Yet, sustained consumer demand and effective brand-building activities have been a breather. The company’s focus on strategic innovations and operational efficiencies has been aiding growth. Investments in emerging markets and global manufacturing optimization are noteworthy. Gains from these upsides are likely to have contributed to results in the second quarter of fiscal 2024.
Our proven model doesn’t conclusively predict an earnings beat for Kellanova this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Kellanova carries a Zacks Rank #3 and has an Earnings ESP of -1.12%.
Some Stocks With the Favorable Combination
Here are three companies worth considering, as our model shows that these also have the correct combination to beat on earnings this time:
Clorox (CLX - Free Report) currently has an Earnings ESP of +1.20% and a Zacks Rank of 3. The company is likely to register a top- and bottom-line decline when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for Clorox’s quarterly revenues is pegged at $1.97 billion, calling for a decline of 2.4% from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Clorox’s quarterly earnings of $1.54 implies a drop of 7.8% from the year-ago quarter’s levels. However, CLX has a trailing four-quarter earnings surprise of 128.5%, on average.
Coty (COTY - Free Report) has an Earnings ESP of +22.73% and a Zacks Rank of 3 at present. The company is expected to register top- and bottom-line growth when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for COTY’s quarterly earnings has remained unchanged in the past 30 days at 5 cents per share. The consensus mark for earnings indicates a 400% surge from the figure reported in the year-ago quarter.
The consensus estimate for quarterly revenues is pegged at $1.38 billion, which indicates a rise of 1.8% from the figure reported in the year-ago quarter. COTY delivered a trailing four-quarter average negative earnings surprise of 22.2%.
International Flavors & Fragrances Inc. (IFF - Free Report) currently has an Earnings ESP of +21.04% and a Zacks Rank of 2. The company is likely to register a decline in the top line and a bottom-line increase when it reports second-quarter 2024 numbers. The Zacks Consensus Estimate for International Flavors’ quarterly revenues is pegged at $2.8 billion, indicating a decline of 3.6% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for International Flavors’ quarterly earnings of 91 cents suggests an increase of 5.8% from the year-ago quarter’s levels. IFF has a trailing four-quarter earnings surprise of 6.45%, on average.
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Kellanova (K) Q2 Earnings Coming Up: Key Factors to Consider
Kellanova (K - Free Report) is likely to register top-and bottom-line decline when it reports second-quarter 2024 earnings on Aug 1. The Zacks Consensus Estimate for revenues is pegged at $3.2 billion, suggesting a fall of 22.1% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for quarterly earnings has remained unchanged in the past 30 days at 90 cents per share. The projection indicates a decline of 28% from the figure reported in the year-ago period quarter. Kellanova, which formerly operated as Kellogg Company, has a trailing four-quarter earnings surprise of 12.5%, on average.
Things To Consider
Kellanova has been operating amid a complex operating environment characterized by elevated inflation rates. The company is facing major headwinds from industry-wide elasticities, which are putting pressure on volumes, particularly in North America and Europe. Additionally, heightened geopolitical tensions in the Middle East pose a threat to the company’s top-line performance. Kellanova’s international presence also keeps it exposed to risks of unfavorable currency translations. The persistence of these factors is likely to have hurt the company’s performance in the to-be-reported quarter.
Yet, sustained consumer demand and effective brand-building activities have been a breather. The company’s focus on strategic innovations and operational efficiencies has been aiding growth. Investments in emerging markets and global manufacturing optimization are noteworthy. Gains from these upsides are likely to have contributed to results in the second quarter of fiscal 2024.
Kellanova Price and Consensus
Kellanova price-consensus-chart | Kellanova Quote
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Kellanova this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Kellanova carries a Zacks Rank #3 and has an Earnings ESP of -1.12%.
Some Stocks With the Favorable Combination
Here are three companies worth considering, as our model shows that these also have the correct combination to beat on earnings this time:
Clorox (CLX - Free Report) currently has an Earnings ESP of +1.20% and a Zacks Rank of 3. The company is likely to register a top- and bottom-line decline when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for Clorox’s quarterly revenues is pegged at $1.97 billion, calling for a decline of 2.4% from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Clorox’s quarterly earnings of $1.54 implies a drop of 7.8% from the year-ago quarter’s levels. However, CLX has a trailing four-quarter earnings surprise of 128.5%, on average.
Coty (COTY - Free Report) has an Earnings ESP of +22.73% and a Zacks Rank of 3 at present. The company is expected to register top- and bottom-line growth when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for COTY’s quarterly earnings has remained unchanged in the past 30 days at 5 cents per share. The consensus mark for earnings indicates a 400% surge from the figure reported in the year-ago quarter.
The consensus estimate for quarterly revenues is pegged at $1.38 billion, which indicates a rise of 1.8% from the figure reported in the year-ago quarter. COTY delivered a trailing four-quarter average negative earnings surprise of 22.2%.
International Flavors & Fragrances Inc. (IFF - Free Report) currently has an Earnings ESP of +21.04% and a Zacks Rank of 2. The company is likely to register a decline in the top line and a bottom-line increase when it reports second-quarter 2024 numbers. The Zacks Consensus Estimate for International Flavors’ quarterly revenues is pegged at $2.8 billion, indicating a decline of 3.6% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for International Flavors’ quarterly earnings of 91 cents suggests an increase of 5.8% from the year-ago quarter’s levels. IFF has a trailing four-quarter earnings surprise of 6.45%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.