Kellogg Co. (K) Raises Guidance
Kellogg Co. raised its full-year guidance on Thursday after the cereal and convenience food company reported that strong revenue growth and improved margins helped boost second-quarter profit by 13 percent.
Net income rose to $301 million, or 75 cents per share, in the three months ended June 30 from $267 million, or 67 cents per share, a year earlier.
Sales rose 8.7 percent to $3.02 billion from $2.77 billion, with internal net sales growth, which excludes the effect of foreign-currency translation, of 6 percent.
On average, analysts surveyed by Thomson Financial forecast a quarterly profit of 70 cents per share on sales of $2.93 billion.
Net income rose to $301 million, or 75 cents per share, in the three months ended June 30 from $267 million, or 67 cents per share, a year earlier.
Sales rose 8.7 percent to $3.02 billion from $2.77 billion, with internal net sales growth, which excludes the effect of foreign-currency translation, of 6 percent.
On average, analysts surveyed by Thomson Financial forecast a quarterly profit of 70 cents per share on sales of $2.93 billion.
Labels: K, Kellogg Co.
posted by Stock Administrator @ 5:16 PM
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