Kellanova reported third‑quarter 2025 results with net sales of $3.26 billion, flat compared with the same period a year earlier. Operating profit reached $452 million, and non‑GAAP earnings per share were $0.94, beating the consensus estimate of $0.86.
The company’s snack and cereal segments were largely flat, while its noodles segment in Africa grew 12% year‑over‑year, offsetting soft demand in chips and crackers driven by increased competition and shifting consumer preferences.
Management highlighted disciplined cost management and productivity gains that helped expand margins. The company is continuing restructuring efforts in North America and Europe to improve efficiency and is focusing on emerging‑market expansion as a key growth driver.
Kellanova’s earnings release comes amid a pending acquisition by Mars, Inc., a $35.9 billion transaction expected to close toward the end of 2025. The deal is the largest consumer‑packaged‑goods transaction since 2015 and is the primary reason the company is not providing forward guidance.
For comparison, Q3 2024 net sales were also $3.26 billion, operating profit was $452 million, and non‑GAAP EPS was $0.91.
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