KELLANOVA (K) Company Report

Kellanova has increased its memory chip and critical component inventory by 50% above normal levels to counteract the global semiconductor shortage driven by AI data center demand.
The elevated stockpile is intended to maintain product availability and avoid passing rising component costs to consumers this quarter, though the company anticipates potential gadget price increases in 2026.
CFO Winston Cheng noted that long-term contracts and scale provide a competitive advantage, while the September-quarter profit saw a slight decline as investments in AI capabilities offset robust PC and device sales.

Nov 24, 2025, 2:45 AM

Bloomberg

Kellanova outlines 2026 CPG growth trends

Kellanova identifies five CPG growth trends—digital engagement, precision measurement, agentic AI commerce, creator-led community, and agile operations—for 2026 planning.
Digital strategies like short-form video and micro-personalized content, supported by AI predictive scoring, improved campaign performance by 2.16× and increased profit ROI by 11%.
A UK clean-room pilot using unified data analytics achieved a 9% sales lift among price-sensitive shoppers and a 36% uplift for loyal buyers.
Investments in agentic AI (e.g., Walmart’s ChatGPT Instant Checkout) and creator partnerships (e.g., Celeste Barber) enhance personalized shopping and brand community engagement.
Cross-functional agility drove a $1 improvement in ROI and a 91% increase in promotional effectiveness from 2024 to 2025.

Nov 13, 2025, 2:03 PM

Press Release

Kellanova reports Q3 2025 results

Earnings

M&A

Guidance Update

Pending merger with Mars at $83.50 per share, approved November 1, 2024, expected to close end-2025.
Net sales of $3.26 billion, up 0.9% vs. Q3 2024.
Reported operating profit of $452 million (–0.6% y/y); adjusted operating profit of $473 million (+7.3%).
Reported diluted EPS of $0.88 (–16.2%); adjusted diluted EPS of $0.94 (+3.3%).
No forward guidance provided due to the pending merger.

Oct 30, 2025, 12:01 PM

8-K

IZEA reports Q2 2025 financial results

Earnings

Revenue Acceleration/Inflection

Total Q2 2025 revenue of $9.1 million, flat year-over-year; excluding the divested Hoozu segment, on-going operations revenue grew 11%.
Managed Services bookings were $5.6 million, down from $10.3 million in Q2 2024, as the company refocused on larger, more profitable contracts.
Achieved first profitable quarter in company history with net income of $1.2 million ($0.07 per share) versus a net loss of $2.2 million (-$0.13 per share) in Q2 2024.
Adjusted EBITDA turned positive at $1.3 million compared to a loss of $2.2 million in the prior-year quarter.
Ended the quarter with $50.6 million in cash and equivalents and no long-term debt as of June 30, 2025.

Aug 12, 2025, 8:01 PM

Press Release

Kellanova reports Q2 2025 results; Mars acquisition pending

Earnings

M&A

Mars to acquire Kellanova for $83.50 per share, expected to close towards end-2025 after shareowner approval on November 1, 2024.
Q2 2025 reported net sales of $3,203 million, up 0.3% year-over-year; organic net sales also +0.3% YoY.
Q2 adjusted operating profit of $477 million, down 5.0% YoY, and adjusted EPS of $0.94, down 6.9% YoY.
Year-to-date free cash flow was $(39) million, versus $443 million in the prior-year period.
Kellanova will not provide forward-looking guidance due to the pending merger with Mars.

Jul 31, 2025, 12:00 AM

8-K

WK Kellogg Nears $3 B Ferrero Takeover

M&A

Shares of WK Kellogg jumped about 50% after reports that Ferrero is close to buying the cereal maker for $3 billion, with the deal possibly closing this week.
WK Kellogg’s market value stands at roughly $1.5 billion, against $500 million in debt, and it employs nearly 700 people in Michigan, stoking concerns over potential job losses and reduced local investment.
The company was spun off from Kellogg in 2023 to focus on cereals, while its snack division became Kellanova—acquired by Mars for nearly $30 billion last year.

Jul 9, 2025, 11:00 PM

Bloomberg

Kellanova faces EU antitrust investigation

M&A

Legal Proceedings

The European Commission has launched a full-scale antitrust investigation into Mars Inc.’s $36 billion bid to acquire Kellanova over concerns about high market share in certain EU countries.
The preliminary review phase of the probe is set to conclude on June 25.
Mars Inc. is unlikely to offer any remedies during this preliminary phase.
Kellanova’s shares briefly declined in New York trading before partially recovering following the announcement.

Jun 18, 2025, 4:35 PM

Bloomberg

Kellanova CFO Resignation and Replacement Announcement

CFO Change

Management Change

CFO Resignation: Amit Banati, Vice Chairman and CFO, is resigning effective May 9, 2025, to pursue another opportunity.
Acting CFO Appointment: John Renwick is appointed as acting Senior Vice President and CFO effective May 9, 2025, bringing extensive prior experience from his roles in investor relations and corporate planning.

May 8, 2025, 12:00 AM

8-K

Kellanova Q1 2025 Results and Acquisition Update

Earnings

M&A

Kellanova announced its Q1 2025 financial results with organic sales growth, improved operating profit, and higher EPS, despite challenging market conditions.
The company also confirmed a pending acquisition by Mars, Incorporated at $83.50 per share in cash, with shareowner approval on November 1, 2024, and closing expected in the first half of 2025.
Analyst John Renwick, CFA is available for further inquiries at (269) 961-9050.

May 1, 2025, 12:00 AM

8-K

Kellanova Amends Indenture in Connection with Acquisition

M&A

The company executed Supplemental Indenture amendments to its existing indenture to implement terms of the Acquisition Agreement dated August 13, 2024, with a Parent Guarantee provided by the Parent Guarantor, ensuring prompt payment obligations upon settlement.
The amendments, effective upon execution but subject to the Settlement Date, include provisions to change indenture terms and eliminate certain restrictions, as approved with consent from Majority Holders.
Additionally, the company has solicited and received consents pursuant to the Consent Solicitation Statement dated March 4, 2025, in connection with these changes.

Mar 12, 2025, 12:00 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for KELLANOVA.

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