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 revisions for K has been stable over the past 30 days. Moreover, 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 6%.
Currently, K has a Zacks Rank #3 (Hold), 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.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: K beat on earnings. Our consensus earnings estimate called for EPS of $1.01 cents/share, and the company reported comparable EPS of $1.06 instead.
Kellogg Company Price and EPS Surprise
Kellogg Company Price and EPS Surprise | Kellogg Company Quote
Revenues: K reported revenues of $3.25 billion. This missed the Zacks Consensus Estimate of $3.33 billion.
Key Stats to Note: Organic revenues (excluding the impact of acquisitions, dispositions and foreign exchange) were down 4.4%, more than 1.1% decline in the previous quarter.
Stock Price Movement: Shares were up 0.7% in the pre-market session at the time of writing.
Check back later for our full write up on this K earnings report later!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Kellogg Company (K): Free Stock Analysis Report
To read this article on Zacks.com click here.