Kellogg Records Better-Than-Expected Q2 Results; Plans Investor Day
Portfolio Pulse from Shivani Kumaresan
Kellogg Company reported Q2 FY23 organic sales growth of 7.1% to $4.14 billion, beating the analyst consensus. Adjusted EPS of $1.25 also surpassed the consensus of $1.11. The company's sales increased in North America, Europe, and Latin America, but fell in Asia Pacific, Middle East, and Africa. Kellogg revised its FY23 organic net sales growth outlook to about 7% from 6% - 7% previously. However, K shares are trading lower by 0.18% at $66.52.
August 04, 2023 | 1:34 pm
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Kellogg's Q2 FY23 results exceeded expectations, with sales growth and adjusted EPS beating analyst consensus. The company also revised its FY23 sales growth outlook upwards. Despite the positive results, K shares are trading lower.
Kellogg's better-than-expected Q2 results and upward revision of its FY23 sales growth outlook are positive indicators for the company. However, the stock is trading lower, which could be due to factors not mentioned in the article, such as broader market trends or investor sentiment.
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IMPORTANCE 80
RELEVANCE 100