Kellanova Stock News

CNBC Television published this video item, entitled "Kellogg sees annual profit above expectations as price hikes help margins" - below is their description.

Kellogg Co (NYSE:K) reported a fourth-quarter FY21 sales decline of 1.3% year-on-year, to $3.42 billion, beating the analyst consensus of $3.39 billion. Q4 sales were negatively affected by lapping an extra week in the year-earlier period. Adjusted EPS of $0.83 beat the analyst consensus of $0.79. Kellogg North America''s sales decreased 3%, Europe fell 6%, Latin America sales gained 6%, Asia Pacific, Middle East, and Africa''s sales jumped 7%. Selling, general and administrative expenses declined 15.4% Y/Y to $677 million. The operating margin was 9.6%, and operating income for the quarter fell 14.5% to $329 million. The reported gross margin was 29.4%, while the adjusted gross margin contracted 400 basis points to 30.2%. Kellogg held $286 million in cash and equivalents as of January 1, 2022, and generated an operating cash flow for 12 months of $1.7 billion. "Facing significant cost inflation, worldwide bottlenecks and shortages, and even a labor strike at all of our U.S. cereal facilities in the fourth quarter, the team executed with agility to deliver another year of on-guidance results," said CEO Steve Cahillane.

"Our goal is to cover all of those input costs with pricing and productivity, and we think we're in very good shape to do that," the Kellogg CEO said Thursday.

Full story available on Benzinga.com

Kellogg Co. shares rose 2.3% in Thursday premarket trading after the food company reported fourth-quarter profit and sales that beat expectations. Net income totaled $433 million, or $1.26 per share, up from $205 million, or 59 cents per share, last year. Adjusted EPS of 83 cents beat the FactSet consensus for 79 cents. Sales of $3.421 billion were down from $3.464 billion but ahead of the FactSet consensus for $3.392 billion. Kellogg''s North America sales fell 3% due to supply disruptions, including those from a 12-week labor strike. For 2022, Kellogg is guiding for organic net sales growth of 3%. The FactSet consensus is for sales of $14.38 billion, implying 1.4% growth. Kellogg stock is up 6.1% over the past year while the S&P 500 index has run up 17.3%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Kellogg Co. undefined shares rose 2.3% in Thursday premarket trading after the food company reported fourth-quarter profit and sales that beat expectations.

Kellogg Co beat Wall Street estimates for quarterly sales on Thursday as higher product prices offset pressure from reduced demand for its snacks and cereals.

Kellogg press release (K): Q4 Non-GAAP EPS of $0.83 beats by $0.04.Revenue of $3.42B (-1.2% Y/Y) beats by $30M.Shares +0.3% PM."As we''ve closed the books on fiscal year 2021, I

BATTLE CREEK, Mich., Feb. 10, 2022 /PRNewswire/ -- Kellogg Company (NYSE: K) today published its 2021 Fourth quarter earnings results in documents posted to the company website at https://investor.kelloggs.com/QuarterlyResults. Documents immediately available include: the financial press

Kellogg's (K) fourth-quarter 2021 results reflect lower earnings and sales. Escalated cost-inflation and shortages are a concern for the company.

Steve Cahillane, Kellogg CEO, joins 'Squawk on the Street' to discuss the company's quarterly earnings results, competition and more.

Kellogg Company (K) CEO Steve Cahillane on Q4 2021 Results - Earnings Call Transcript

Kellogg (K) delivered earnings and revenue surprises of 5.06% and 0.57%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

Kellogg Company (NYSE: K) has been on our radar the last few years because of pandemic tailwinds but, more importantly, the yield-to-value that it offers to investors. The company is a high-yield and