Kellogg: 4Q Earnings Snapshot
BATTLE CREEK, Mich. (AP) _ Kellogg Co. (K) on Thursday reported a fourth-quarter loss of $84 million, after reporting a profit in the same period a year earlier.
The Battle Creek, Michigan-based company said it had a loss of 24 cents per share. Earnings, adjusted for one-time gains and costs, came to 91 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The maker of Frosted Flakes, Pop Tarts and Eggo waffles posted revenue of $3.32 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $3.34 billion.
For the year, the company reported profit of $1.34 billion, or $3.83 per share. Revenue was reported as $13.55 billion.
Kellogg shares have risen nearly 4 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 9 percent. The stock has dropped 9 percent in the last 12 months.