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Kellogg fiscal Q2 profit climbs YOY

Kellogg Co. said its normalized net income for the fiscal second quarter ended July 1 amounted to 85 cents per share, compared with the S&P Capital IQ consensus estimate of 92 cents per share.

EPS increased year over year from 81 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $297.5 million, an increase from $286.3 million in the prior-year period.

The normalized profit margin rose to 9.3% from 8.8% in the year-earlier period.

Total revenue fell year over year to $3.19 billion from $3.27 billion, and total operating expenses fell on an annual basis to $2.64 billion from $2.75 billion.

Reported net income totaled $281.6 million, or 80 cents per share, compared with $279.7 million, or 79 cents per share, in the year-earlier period.