Kellogg (K) Tops Q2 EPS by 4c; Affirms Guidance

Kellogg (NYSE: K) reported Q2 EPS of $0.97, $0.04 better than the analyst estimate of $0.93. Revenue for the quarter came in at $3.19 billion versus the consensus estimate of $3.16 billion.

Guidance is also affirmed for earnings per share on a currency-neutral comparable basis. Specifically, the Company still expects to generate growth of 8-10% off a 2016 base that excludes after-tax $0.02 from deconsolidated Venezuela results, to $4.03-4.09. The growth should be driven by the aforementioned 7-9% growth in operating profit, with roughly 1% of additional leverage from modestly lower shares outstanding and other items, which slightly more than offset a higher effective tax rate and flat interest expense.

For earnings history and earnings-related data on Kellogg (K) click here.

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