WK Kellogg’s stock rises after Q4 revenue beat

Stock of WK Kellogg Co.
KLG,
+1.45%

rose 4.5% in pre-market trading Tuesday after the grain company reported better-than-expected fourth-quarter revenue despite a year-over-year sales decline impacted by price elasticity. prices and lower promotional expenses. WK Kellogg, formerly part of snack giant Kellanova
K,
+2.17%,
said its net income was $15 million, or 18 cents per share, after a loss of $152 million, or a loss of $1.77 per share, in the year-ago period. Analysts polled by FactSet had expected earnings of 21 cents per share. Revenue fell 3.7% year-over-year to $651 million. Analysts surveyed by FactSet expected fourth-quarter revenue of $646 million. Shares of WK Kellogg, which became an independent company on October 2, 2023, are up 17% over the past three months, compared to the S&P 500 index.
SPX,
-0.09%

gain of 13.8%.