Kellogg Reaffirms FY21 Adj. EPS Outlook, Boosts Organic Net Sales Growth - Quick Facts

While reporting its financial results for the third quarter on Thursday, Kellogg Co. (K) reaffirmed its currency-neutral adjusted earnings growth guidance for the full year 2021, while raising annual net sales outlook, reflecting underlying business momentum.

For fiscal 2021, the company continues to project currency-neutral adjusted earnings per share growth of about 1 to 2 percent and raised its organic net sales growth forecast to 2 to 3 percent, up from the prior forecast range of flat to 1 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.08 per share on a revenue growth of 1.8 percent to $14.02 billion for the year. Analysts' estimates typically exclude special items.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration or FDA has urged infant formula manufacturers to import infant formula products to the United States to meet the ongoing severe supply shortage. In order to further increase the availability of infant formula in the country, while protecting the health of infants, the regulator announced a guidance outlining increased flexibilities for the global manufacturers Retail giant Walmart Inc. reported Tuesday a profit for the first quarter of fiscal 2023 that declined 24.8 percent from last year, hurt by lower gross margins and net losses on equity investments. Adjusted earnings per share also missed analysts' expectations, but quarterly revenues topped it. The retailer also cut its earnings guidance for the second quarter and for the full-year 2023. Billionaire and Tesla CEO Elon Musk, who is in deal to acquire Twitter Inc., may seek a lower price for the social media platform as he estimates that there could be at least four times more fake accounts than what the company informed, Reuters reported. It was in late April that Twitter agreed to accept Musk's about $44 billion takeover offer and to become a privately held company.
Follow RTT