Plus   Neg

Kellogg Issues FY19 Guidance - Quick Facts

Kellogg Company (K) announced, for 2019, the company projects adjusted EPS to decrease by 5%-7% on a currency-neutral basis as it laps 2018's discrete tax benefits. Adjusted operating profit is expected to be approximately flat on a currency-neutral basis. Kellogg expects 2019 net sales to increase 3%-4% on a currency-neutral basis, and an organic net sales growth of 1%-2%.

Kellogg reported that its fourth-quarter earnings per share declined slightly on a reported basis, owing to a sharply negative swing in the mark-to-market adjustments and higher restructuring charges. On a currency-neutral adjusted basis, earnings per share were at $0.93, flat with previous year. Reported net sales grew more than 4% year-on-year to $3.32 billion. On an organic basis, net sales declined by less than 1%.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
McDonald's said Monday that the introduction of fresh beef at its restaurants just over one year ago has helped it gain market share in the informal eating out or IEO category for the first time in five years. In May 2018, the burger chain switched to fresh beef quarter-pound burgers from frozen beef across the U.S., as part of its efforts to provide customers with a "hotter, juicer burger." 'Toy Story 4' has broken global office box records for an animated movie, according to media reports. The movie is the fourth instalment in the 'Toy Story' series and is the sequel to 2010's 'Toy Story 3.' The Disney and Pixar film has reportedly earned $238 million after opening worldwide over the weekend and performed particularly well in Latin America and Europe. FedEx Corp. said it missed delivery of a Huawei Technologies package in the U.S. due to an "operational error" and has apologized for the incident, according to reports. The package delivery giant also reportedly said it will accept and deliver all Huawei products, except for shipments to addresses of Huawei and affiliates listed on the U.S. Entity List.
Follow RTT