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Kellogg (K) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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Kellogg (K - Free Report) reported $4.04 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 4.6%. EPS of $1.25 for the same period compares to $1.18 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $4.05 billion, representing a surprise of -0.15%. The company delivered an EPS surprise of +12.61%, with the consensus EPS estimate being $1.11.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Kellogg performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net sales - Europe - Volume impact - YoY change: -3.8% compared to the -5.28% average estimate based on five analysts.
Net sales - North America - Forex impact - YoY change: -0.3% compared to the -0.4% average estimate based on five analysts.
Net sales - North America - Price / mix impact - YoY change: 14.4% versus the five-analyst average estimate of 8.64%.
Net sales - North America - Volume impact - YoY change: -10.7% versus -2.95% estimated by five analysts on average.
Net sales - AMEA - Forex impact - YoY change: -16.6% compared to the -10.16% average estimate based on five analysts.
Net sales - Latin America - Forex impact - YoY change: 7.6% compared to the 3.61% average estimate based on five analysts.
Net sales - AMEA - Volume impact - YoY change: -3.3% compared to the -1.51% average estimate based on five analysts.
Net sales- Latin America: $336 million compared to the $314.36 million average estimate based on five analysts. The reported number represents a change of +16.7% year over year.
Net sales- Europe: $669 million versus the five-analyst average estimate of $615.80 million. The reported number represents a year-over-year change of +11.9%.
Net sales- North America: $2.33 billion compared to the $2.36 billion average estimate based on five analysts. The reported number represents a change of +3.4% year over year.
Net sales- AMEA: $712 million versus the five-analyst average estimate of $756.01 million. The reported number represents a year-over-year change of -2.7%.
Net sales- Corporate: -$1 million versus the two-analyst average estimate of -$1.50 million.
Shares of Kellogg have returned -2.6% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Kellogg (K) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Kellogg (K - Free Report) reported $4.04 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 4.6%. EPS of $1.25 for the same period compares to $1.18 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $4.05 billion, representing a surprise of -0.15%. The company delivered an EPS surprise of +12.61%, with the consensus EPS estimate being $1.11.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Kellogg performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net sales - Europe - Volume impact - YoY change: -3.8% compared to the -5.28% average estimate based on five analysts.
- Net sales - North America - Forex impact - YoY change: -0.3% compared to the -0.4% average estimate based on five analysts.
- Net sales - North America - Price / mix impact - YoY change: 14.4% versus the five-analyst average estimate of 8.64%.
- Net sales - North America - Volume impact - YoY change: -10.7% versus -2.95% estimated by five analysts on average.
- Net sales - AMEA - Forex impact - YoY change: -16.6% compared to the -10.16% average estimate based on five analysts.
- Net sales - Latin America - Forex impact - YoY change: 7.6% compared to the 3.61% average estimate based on five analysts.
- Net sales - AMEA - Volume impact - YoY change: -3.3% compared to the -1.51% average estimate based on five analysts.
- Net sales- Latin America: $336 million compared to the $314.36 million average estimate based on five analysts. The reported number represents a change of +16.7% year over year.
- Net sales- Europe: $669 million versus the five-analyst average estimate of $615.80 million. The reported number represents a year-over-year change of +11.9%.
- Net sales- North America: $2.33 billion compared to the $2.36 billion average estimate based on five analysts. The reported number represents a change of +3.4% year over year.
- Net sales- AMEA: $712 million versus the five-analyst average estimate of $756.01 million. The reported number represents a year-over-year change of -2.7%.
- Net sales- Corporate: -$1 million versus the two-analyst average estimate of -$1.50 million.
View all Key Company Metrics for Kellogg here>>>Shares of Kellogg have returned -2.6% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.