Kellogg: 4Q Earnings Snapshot
BATTLE CREEK, Mich. (AP) _ Kellogg Co. (K) on Thursday reported fourth-quarter profit of $205 million.
The Battle Creek, Michigan-based company said it had net income of 59 cents per share. Earnings, adjusted for non-recurring costs, were 86 cents per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.
The maker of Frosted Flakes, Pop Tarts and Eggo waffles posted revenue of $3.46 billion in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $3.53 billion.
For the year, the company reported profit of $1.25 billion, or $3.63 per share. Revenue was reported as $13.77 billion.
Kellogg shares have fallen roughly 7% since the beginning of the year, while the Standard & Poor’s 500 index has risen 4%. The stock has fallen 11% in the last 12 months.