Kellanova (NYSE:K) Q2 2024 Earnings Conference Call August 1, 2024 9:30 AM ET

Company Participants

John Renwick - Vice President of Investor Relations & Corporate Planning
Steve Cahillane - Chairman, President & Chief Executive Officer
Amit Banati - Vice Chairman & Chief Financial Officer

Conference Call Participants

Rob Dickerson - Jefferies
Chris Carey - Wells Fargo Securities
Peter Galbo - Bank of America
Robert Moskow - TD Cowen
David Palmer - Evercore ISI
Michael Lavery - Piper Sandler
Thomas Palmer - Citi
Ken Goldman - JPMorgan
Alexia Howard - Sanford Bernstein
Steve Powers - Deutsche Bank
Max Gumport - BNP Paribas
Andrew Lazar - Barclays

Operator

Good morning. Welcome to Kellanova's Second Quarter 2024 Earnings Call. [Operator Instructions]

At this time, I would like to turn the call over to John Renwick, Vice President of Investor Relations and Corporate Planning for Kellanova. Mr. Renwick, you may begin your conference call.

John Renwick

Thank you, operator. Good morning, everyone, and thank you for joining us today for a review of our second quarter results as well as an update on our outlook for 2024. I am joined this morning by Steve Cahillane, our Chairman, President and Chief Executive Officer; and Amit Banati, our Vice Chairman and Chief Financial Officer.

Slide number 3 shows our forward-looking statements disclaimer. As you are aware, certain statements made today, such as projections for Kellanova's future performance are forward-looking statements. Actual results could be materially different from those projected. For further information concerning factors that could cause these results to differ, please refer to the third slide of this presentation as well as to our public SEC filings.

A recording of today's webcast and supporting documents will be archived for at least 90 days on the Investor page of www.kellanova.com. As always, when referring to our results and outlook, unless otherwise noted, we will be referring to them on an organic basis for net sales and on a currency-neutral adjusted basis for operating profit and earnings per share. Also, remember that our 2023 results have been recast to treat the spun off W.K. Kellogg Co. as a discontinued operation in accordance with applicable accounting guidelines. Those recast statements can be found in our Q4 2023 earnings press release from February 8 of this year.

And now I'll turn it over to Steve.

Steve Cahillane

Thanks, John, and good morning, everyone. We're once again pleased to report strong quarterly results that are clear evidence of our more growth-oriented and more profitable portfolio following last fall's spin-off. Our year-on-year organic growth in net sales was again on algorithm and volume trends improved sequentially again outside of Nigeria.