Kellogg Company (NYSE:K) reported second quarter earnings before the bell today, that beat street view.
On a GAAP basis, Kellogg reported net income of $ 474.00 million or $ 1.71 per share, compared with income of $ 385.00 million or $ 0.80 per share, a year ago period.
Excluding special items, the company announced adjusted operating income of $ 476.00 million or $ 1.12 per share.
Headquartered in Battle Creek, Michigan, Kellogg recorded net sales that rose 6% to $ 3.36 billion from $ 3.18 billion in the same quarter last year.
Analysts polled by Thomson Reuters expected Kellogg Company to reveal income of $ 1.05 per share on revenue of $ 3.30 billion for the second quarter.
Steve Cahillane, Kellogg Chairman and CEO, We’ve strengthened our portfolio with acquisitions and expanded emerging markets presence, and we’ve reinvigorated our biggest brands. This is starting to show up in our net sales and our in-market performance, and puts us in a position to raise our full-year guidance. We’re still in the early days of Deploy for Growth, but we like our progress so far in 2018.