Kellogg Co

NYSE:K  
71.79
+0.45 (+0.63%)
Restructuring / Reorganization, Earnings Announcements

Kellogg Company Announces Separation Of Two Businesses As Bold Next Steps In Portfolio Transformation

Published: 06/21/2022 13:31 GMT
Kellogg Co (K) - Kellogg Company Announces Separation of Two Businesses As Bold Next Steps in Portfolio Transformation.
Kellogg Co - Plans to Separate Into Three Independent Companies, by Spinning Off Its U.S., Canadian, and Caribbean Cereal and Plant-based Businesses.
Kellogg Co - Approved a Plan to Separate Its North American Cereal and Plant-based Foods Businesses, Via Tax-free Spin-offs.
Kellogg Co - Three Companies Names Will Be Determined Later.
Kellogg Co - Plans to Separate North America Cereal Co. As an Independent Business Through a Tax-free Spin-off.
Kellogg Co - Steve Cahillane Will Remain Chairman and Chief Executive Officer of Global Snacking Co.
Kellogg Co - Proposed Management Team for North America Cereal Co. Will Be Announced at a Later Date.
Kellogg Co - Near Term, North America Cereal Co. Will Be Focused on Restoration of Inventory, Profit Margins.
Kellogg Co - Expect North America Cereal Co. Spin-off May Precede That of Plant Co.
, With Both Currently Targeted to Be Completed by End of 2023.
Kellogg Co - Intends to Separate Plant Co. As an Independent Business Through a Tax-free Spin-off.
Kellogg Co - Will Begin Incurring Pretax Expenses Related to Executing Transactions and Setting Up Companies.
Kellogg Co - Will Disclose These Up-front Costs and Exclude Them From Its Adjusted-basis Results in Its External Reporting.
Kellogg Co - Anchored by Leading Morningstar Farms Brand, Plant Co. Will Be a Profitable, Pure-play, Plant-based Foods Company.
Revenue is expected to be $3.63 Billion
Adjusted EPS is expected to be $1.04

Next Quarter Revenue Guidance is expected to be $3.72 Billion
Next Quarter EPS Guidance is expected to be $1.02

More details on our Analysts Page.