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Kellogg (K) Surpasses Q3 Earnings & Revenue Estimates

Kellogg Company K 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 for K has moved down by 0.3% over the past 60 days. However, 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 7.24%.

Currently, K has a Zacks Rank #3 (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.

Kellogg Company Price and EPS Surprise

 

Kellogg Company Price and EPS Surprise | Kellogg Company Quote

We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Kellogg surpassed on earnings. The Zacks Consensus Estimate called for EPS of 93 cents/share, and the company reported EPS of $1.05 instead.

Revenues: Kellogg reported revenues of $3.27 billion, beating the Zacks Consensus Estimate of $3.21 billion.

Key Stats to Note: Organic revenues (excluding the impact of acquisitions, dispositions and foreign exchange) were down 1.4%, better than 3.1% decline in the previous quarter.

Stock Price Movement: Shares were up 4.04% 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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