Kellogg Trades Higher On Q3 Earnings Beat

Kellogg Company K reported third-quarter earnings of $1.03 per share on Tuesday, which beat the analyst consensus estimate of 91 cents by 13.19%. This is a 2.83% decrease over earnings of $1.06 per share from the same period last year.

The company reported quarterly sales of $3.37 billion, which beat the analyst consensus estimate of $3.35 billion by 0.60%. This is a 2.85% decrease over sales of $3.469 billion the same period last year.

Kellogg reaffirmed full-year financial guidance and expects net sales growth is still expected to be +1-2% year on year on both a currency-neutral and organic basis.

Kellogg shares were trading up 3.1% at $63 in Tuesday’s pre-market session. The stock has a 52-week high of $72.02 and a 52-week low of $51.34.

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