Kellogg Company (NYSE:K) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Kellogg Company Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4.21% to $0.99 in the quarter versus EPS of $0.95 in the year-earlier quarter.
Revenue: Rose 12.24% to $3.86 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Kellogg Company reported adjusted EPS income of $0.99 per share. By that measure, the company missed the mean analyst estimate of $1.03. It missed the average revenue estimate of $3.94 billion.
Quoting Management: “Results in the first quarter were broadly as we expected, and we’re pleased to have a solid start to the year,” said John Bryant, Kellogg Company’s president and chief executive officer. “We saw good comparable revenue growth in many regions around the world and the Pringles business continued to post strong results. As a result, we’re also pleased to report that we’re on-track to meet our guidance for the full-year.”
Key Stats (on next page)…