Kellanova Beats Q3 Estimates; Timken Faces Headwinds

Timken reported a 16% increase in net income and a year-to-date share gain of about 10.6%, but is contending with declining organic revenue and tariff pressures that could limit margin improvement. Kellanova beat Q3 2025 expectations with adjusted EPS of $0.94 (up 3.3% year‑over‑year) and net sales of $3.26 billion (up 0.9%), though organic sales fell 0.5% and adjusted gross margin compressed to 33.4%. Management credited productivity, expense control and emerging‑market momentum — notably noodles in Africa — for a 7.3% rise in adjusted operating profit to $473 million despite softness in snacks, cereal and frozen categories in developed markets; analysts had modeled $0.88 EPS and $3.25 billion in revenue. Cannae Holdings has shown uneven recent performance and investor caution amid struggles at core holdings and exposure to private assets, leaving its valuation contested. Patrick Industries has posted strong recent returns (roughly 26% YTD and large multi‑year gains), with consensus fair value modestly above the market but exposed to inflation and cyclical RV/marine demand.