Newly spun-off WK Kellogg beats revenue estimates on strong cereal demand

(Reuters) - WK Kellogg Co, the recently spun-off North American cereal business of Kellanova, beat Wall Street targets for third-quarter sales on Wednesday, as demand for its products withstood higher prices.

Home to cereal brands including Kellogg's, Froot Loops and Rice Krispies, WK Kellogg reported sales of $692 million for the quarter ended Sept. 30, compared with analysts' expectations of $666.3 million, according to LSEG data.

The company also forecast full-year 2023 adjusted sales in the range of $2.72 billion to $2.74 billion, slightly ahead of its prior guidance.

Kellanova, formerly called Kellogg, also posted better-than-expected quarterly net sales of $3.94 billion.

(Reporting by Juby Babu in Bengaluru; Editing by Devika Syamnath)