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.
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.
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 6.16%.
Currently, K has a Zacks Rank #2 (Buy), 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 92 cents/share, and the company reported comparable EPS of 97 cents instead.
Revenues: K reported revenues of $3.19 billion. This surpassed the Zacks Consensus Estimate of $3.15 billion.
Key Stats to Note: Organic revenues (excluding the impact of acquisitions, dispositions and foreign exchange) were down 3.1%, better than 4.4% decline in the previous quarter.
Stock Price Movement: Shares were up 1.02% in the pre-market session at the time of writing.
Check back later for our full write up on this K earnings report later!
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