Kellogg Q4 Sales $3.17B Beat $3.08B Estimate
Portfolio Pulse from Benzinga Newsdesk
Kellogg (NYSE:K) reported Q4 sales of $3.17 billion, surpassing the analyst consensus estimate of $3.08 billion by 3.05%. However, this represents a 17.17% decrease from the $3.83 billion sales reported in the same period last year.
February 08, 2024 | 1:03 pm
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Kellogg reported higher than expected Q4 sales at $3.17 billion against estimates of $3.08 billion, but saw a significant year-over-year decrease.
While Kellogg's surpassing of sales estimates is positive, the significant year-over-year decrease tempers expectations for immediate stock price improvement. The mixed results suggest a neutral short-term impact on the stock price, as the market may weigh the positive beat against the negative trend in sales.
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