Packaged food maker Kellogg’s revealed on Tuesday that it expects its snack business Kellanova to report full-year sales in the range of $13.4 billion and $13.6 billion when the company splits into two units. Last year, Kellogg’s announced its plan to split the company in an effort to increase focus on its snack business. The split is set to happen later this year.
While Kellanova will focus on the company’s snack brands such as Pringles, Cheez-It, and Pop-Tarts, its other business unit, WK Kellogg, will be focused purely on the company’s cereal brands, including Kellogg’s and Froot Loops. WK Kellogg is forecasted to make full-year net sales of $2.7 billion.
Earlier this month, Kellogg’s forecast a smaller drop in annual profit than what Wall Street expected. This came after the company implemented several price hikes in both its breakfast cereals and snacks ranges.
Kellanova is forecasted to make an annual adjusted profit in the range of $3.55 and $3.65 per share.