Kellogg Company (NYSE: K) on Thursday reported an increase in second-quarter adjusted earnings amid an increase in revenues. The company also raised its full-year earnings guidance.
Net income, adjusted for special items, rose to $1.18 per share in the most recent quarter from $1.14 per share a year earlier and came in above the forecast. Meanwhile, second-quarter unadjusted profit dropped to $326 million or $0.95 per share from $380 million or $1.11 per share in the same period of last year.
Total sales increased 9% annually to $3.86 billion during the three-month period. The latest number also topped the market’s expectations.
Check this space to read management/analysts’ comments on Kellogg’s Q2 results
“We sustained notably strong growth momentum in snacks and emerging markets, while accelerating the recovery of supply and category share in our North America cereal business, all while leveraging productivity initiatives and revenue growth management to mitigate the impact of decades-high input cost inflation,” said Steve Cahillane, Kellogg’s CEO.
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