We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Kellogg Company (K - Free Report) has a balanced portfolio of cereal and snack products. Popular brands include Kellogg’s, Keebler, Pop-Tarts, Eggo, Cheez-It, Ready Crust and Kashi.
A couple of years prior to 2015 were tough for Kellogg when it saw sales and profits shrink due to reducing demand. However, product introductions and brand building investments funded by the savings from Project K led to better-than-expected sales trends in 2015, especially in the U.S. cereals businesses.
Kellogg has been struggling to drive sales over the past two years primarily due to weak performance by its cereal products in developed markets as well as soft U.S. snacks businesses owing to lower demand. The company failed to register higher sales in the Q2 as well.
Nonetheless, all the factors that affected sales are temporary. Management is optimistic about better results as sales trends improve in certain categories and markets as the year progresses.
Investors should note that earnings estimate revisions for K has been stable over the past 30 days. Moreover, K has a superb earnings history, with the company delivering positive earnings surprises consecutively over the past four quarters, thereby bringing the average to a positive earnings surprise of 3.29%.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: K beat on earnings. Our consensus earnings estimate called for EPS of 87 cents/share, and the company reported adjusted EPS of 96 cents instead. Investors should note that these figures take out stock option expenses.
Revenues: K reported revenues of $3.25 billion. This missed our consensus estimate of $3.29 billion.
Key Stats to Note: Organic revenues (excluding the impact of acquisitions, dispositions and foreign exchange) was down 1%, much softer than 8.6% improvement in the previous quarter mainly due to trade-inventory reductions in U.S. cereal, softness in U.K. cereal, and portfolio transitions in its U.S. Frozen and Kashi businesses.
Stock Price: Shares were up 0.81% in the pre-market session at the time of writing.
Check back later for our full write up on this K earnings report later!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Kellogg (K) Tops on Earnings; Misses Sales in Q3
Kellogg Company (K - Free Report) has a balanced portfolio of cereal and snack products. Popular brands include Kellogg’s, Keebler, Pop-Tarts, Eggo, Cheez-It, Ready Crust and Kashi.
A couple of years prior to 2015 were tough for Kellogg when it saw sales and profits shrink due to reducing demand. However, product introductions and brand building investments funded by the savings from Project K led to better-than-expected sales trends in 2015, especially in the U.S. cereals businesses.
Kellogg has been struggling to drive sales over the past two years primarily due to weak performance by its cereal products in developed markets as well as soft U.S. snacks businesses owing to lower demand. The company failed to register higher sales in the Q2 as well.
Nonetheless, all the factors that affected sales are temporary. Management is optimistic about better results as sales trends improve in certain categories and markets as the year progresses.
KELLOGG CO Price and EPS Surprise
KELLOGG CO Price and EPS Surprise | KELLOGG CO Quote
Investors should note that earnings estimate revisions for K has been stable over the past 30 days. Moreover, K has a superb earnings history, with the company delivering positive earnings surprises consecutively over the past four quarters, thereby bringing the average to a positive earnings surprise of 3.29%.
Currently, K has a Zacks Rank #3 (Hold), but that could definitely change following Kellogg’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: K beat on earnings. Our consensus earnings estimate called for EPS of 87 cents/share, and the company reported adjusted EPS of 96 cents instead. Investors should note that these figures take out stock option expenses.
Revenues: K reported revenues of $3.25 billion. This missed our consensus estimate of $3.29 billion.
Key Stats to Note: Organic revenues (excluding the impact of acquisitions, dispositions and foreign exchange) was down 1%, much softer than 8.6% improvement in the previous quarter mainly due to trade-inventory reductions in U.S. cereal, softness in U.K. cereal, and portfolio transitions in its U.S. Frozen and Kashi businesses.
Stock Price: Shares were up 0.81% in the pre-market session at the time of writing.
Check back later for our full write up on this K earnings report later!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>