trending Market Intelligence /marketintelligence/en/news-insights/trending/z6FEkX6c4cj55AiG8ei97w2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Kellogg maintains negative outlook despite Q2 results beating estimates

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform

Kellogg maintains negative outlook despite Q2 results beating estimates

Kellogg Co. on Aug. 1 reaffirmed its guidance for 2019, which expects adjusted EPS to fall 10% to 11%, despite second-quarter results that beat estimates.

For the quarter ended June 29, adjusted diluted EPS came in at 99 cents, down 13.2% year over year but beating the S&P Global Market Intelligence consensus normalized EPS estimate of 92 cents.

Net income attributable to Kellogg fell to $286 million from $596 million in the year-ago period. Net sales for the period grew 3% to $3.46 billion, though adjusted operating profit fell 5.1% year over year to $452 million.

The cereal and snacks maker said that its snack brands pushed up sales along with gains from its Multipro acquisition.

In morning trading, Kellogg shares jumped 9.7% to $63.86 each.

Despite beating estimates, Kellogg said it still expects higher input costs and effective tax rates will push down EPS. The company also continues to expect operating profit to drop by 4% to 5%, while currency-neutral and organic net sales will grow 1% to 2%.

During the quarter, Kellogg divested its cookie brands to Ferrero SpA for $1.3 billion. Kellogg said it plans to use the proceeds to pay off debt. The snack maker also announced plans to cut jobs and reorganize its North American business.