logo
  

Kellogg Boosts FY22 Sales Growth Outlook - Update

While reporting its financial results for the first quarter on Thursday, Kellogg Co. (K) raised its organic net sales growth guidance for the full year 2022.

For fiscal 2022, the company now projects currency-neutral adjusted earnings per share growth of about 1 to 2 percent on organic net sales growth of about 4 percent, led by price/mix growth.

Previously, the company expected currency-neutral adjusted earnings per share growth of about 1 to 2 percent on organic net sales growth of about 3 percent, led by price/mix growth.

The increased sales guidance reflects momentum in its business, particularly snacks globally and noodles in Africa, as well as by higher price/mix growth required to cover incremental cost inflation in the economy.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.06 per share on a revenue growth of 1.6 percent to $14.41 billion for the year. Analysts' estimates typically exclude special items.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
IBSA Pharma Inc. is recalling 27 lots of TIROSINT-SOL (levothyroxine sodium) Oral Solution to the consumer level due to subpotency, the U.S. Food and Drug Administration said. TIROSINT-SOL is indicated for Hypothyroidism and Pituitary Thyrotropin (Thyroid-Stimulating Hormone, TSH) Suppression. Meanwhile, the recall does not apply to TIROSINT (levothyroxine sodium) capsules. The U.S. Food and Drug Administration approved GlaxoSmithKline LLC's Jesduvroq tablets (daprodustat) for anemia caused by chronic kidney disease or CKD for adults who have been receiving dialysis for at least four months. It is the first oral treatment for anemia, i.e., decreased number of red blood cells, in the given indication that has received FDA approval. German banking major Deutsche Bank AG reported Thursday a significantly higher profit in its fourth quarter and fiscal 2022, mainly reflecting a tax benefit in the U.S, despite weakness in Investment Bank and asset management revenues. The company said it recorded its highest annual profit, both before and after tax, since 2007. However, Deutsche Bank shares were losing around 4 percent...
Follow RTT