Shares of WK Kellogg Co. (KLG) tumbled 5.36% in pre-market trading following the release of disappointing first-quarter results and a downward revision of its full-year outlook. The cereal giant's performance fell short of analyst expectations, sparking concerns among investors about the company's growth prospects.
WK Kellogg reported first-quarter sales of $663 million, missing the IBES estimate of $679.5 million. This underperformance in revenue highlights potential challenges in the company's market share or pricing strategies. Adding to investor worries, the company also announced a significant downgrade to its 2025 organic net sales growth guidance, now projecting a decline of 2.0% to 3.0%.
The combination of weaker-than-expected Q1 results and the reduced full-year outlook has clearly shaken investor confidence. As the market digests this news, traders will be closely watching for any additional commentary from WK Kellogg's management regarding strategies to address these headwinds and improve performance in the coming quarters.
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