Kellogg: Q2 Earnings Snapshot
BATTLE CREEK, Mich. (AP) _ Kellogg Co. (K) on Thursday reported second-quarter earnings of $380 million.
On a per-share basis, the Battle Creek, Michigan-based company said it had profit of $1.11. Earnings, adjusted for non-recurring costs, came to $1.14 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.
The maker of Frosted Flakes, Pop Tarts and Eggo waffles posted revenue of $3.56 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $3.42 billion.
Kellogg shares have fallen slightly since the beginning of the year, while the S&P’s 500 index has risen 17%. The stock has fallen 11% in the last 12 months.