financetom
Business
financetom
/
Business
/
Kellanova misses sales estimate as spending in US slows
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Kellanova misses sales estimate as spending in US slows
May 25, 2025 11:19 PM

(Reuters) -Pringles maker Kellanova ( K ) missed market expectations for first-quarter net sales on Thursday, as consumer spending weakened in the company's biggest market due to inflation.

President Donald Trump's sweeping trade policy, which is expected to raise prices for Americans, has triggered economic uncertainty in the U.S.

Data showed on Wednesday that the economy contracted in the first quarter for the first time in three years.

Kellanova ( K ) said it was "planning contingencies and taking action for managing through continued global economic uncertainty," as spending is expected to be weak this year.

The company, which is in the process of being bought out by snacks giant Mars, has been raising prices across markets to offset the impact of higher input costs.

Rival Hershey also flagged tariffs-related expenses of about $15 million to $20 million in the current quarter.

Persistent weakness in the snacks and frozen foods categories led to a 4% fall in first-quarter sales in the United States, which accounts for about 51% of Kellanova's ( K ) total business.

The company's sales in Europe and Latin America also fell on soft demand for cookies and beverages.

On an adjusted basis, Kellanova's ( K ) first-quarter gross margin fell to 34.9% from 35.7% a year ago.

Its net sales fell 3.7% to $3.08 billion in the three months ended March 29, compared with analysts' expectation of $3.18 billion, according to data compiled by LSEG.

Its adjusted profit came in at 90 cents per share in the quarter, compared with market expectations of $1.01.

(Reporting by Juveria Tabassum in Bengaluru; Editing by Shinjini Ganguli)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Sweetgreen Insider Sold Shares Worth $6,260,500, According to a Recent SEC Filing
Sweetgreen Insider Sold Shares Worth $6,260,500, According to a Recent SEC Filing
May 16, 2024
04:42 PM EDT, 05/16/2024 (MT Newswires) -- Jonathan Neman, Director, CEO, on May 15, 2024, sold 200,000 shares in Sweetgreen ( SG ) for $6,260,500. Following the Form 4 filing with the SEC, Neman has control over a total of 3,093,991 shares of the company, with 2,100,000 shares held directly and 993,991 controlled indirectly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1477815/000141588924013361/xslF345X03/form4-05162024_080505.xml Price: 31.55, Change:...
United Therapeutics Insider Sold Shares Worth $545,800, According to a Recent SEC Filing
United Therapeutics Insider Sold Shares Worth $545,800, According to a Recent SEC Filing
May 16, 2024
04:41 PM EDT, 05/16/2024 (MT Newswires) -- Christopher Causey, Director, on May 15, 2024, sold 2,000 shares in United Therapeutics ( UTHR ) for $545,800. Following the Form 4 filing with the SEC, Causey has control over a total of 4,185 shares of the company, with 4,185 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1082554/000141588924013353/xslF345X03/form4-05162024_040513.xml ...
Despegar.com Swings to Q1 Earnings, Revenue Increases -- Shares Rise After Hours
Despegar.com Swings to Q1 Earnings, Revenue Increases -- Shares Rise After Hours
May 16, 2024
04:41 PM EDT, 05/16/2024 (MT Newswires) -- Despegar.com ( DESP ) reported Q1 earnings late Thursday of $0.07 per diluted share, compared with a loss of $0.10 a year earlier. Two analysts polled by Capital IQ expected $0.16. Revenue for the quarter ended March 31 was $173.7 million, up from $158.7 million a year earlier. Three analysts surveyed by Capital...
Te Connectivity Insider Sold Shares Worth $750,000, According to a Recent SEC Filing
Te Connectivity Insider Sold Shares Worth $750,000, According to a Recent SEC Filing
May 16, 2024
04:41 PM EDT, 05/16/2024 (MT Newswires) -- Aaron Kyle Stucki, President, Communications Solutions, on May 15, 2024, sold 5,000 shares in Te Connectivity ( TEL ) for $750,000. Following the Form 4 filing with the SEC, Stucki has control over a total of 20,533 shares of the company, with 20,533 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1385157/000122520824006100/xslF345X03/doc4.xml Price: 151.09, Change: +0.02,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved