Kellogg Co. (K) Tops Q1 EPS by 3c

Kellogg Co. (NYSE: K) reported Q1 EPS of $1.01, $0.03 better than the analyst estimate of $0.98. Revenue for the quarter came in at $3.7 billion versus the consensus estimate of $3.82 billion.

Kellogg Co. reaffirmed FY2014 guidance.

"Our results for operating profit and earnings in the first quarter were broadly in-line with the expectations we highlighted on the last earnings call," said John Bryant, Kellogg Company's president and chief executive officer. "In addition, we've made great progress with Project K and we've developed strong investment plans for the remainder of the year. As a result, we've reaffirmed our guidance for the full year and expect top-line performance to improve over time."

* Internal sales growth, underlying internal operating profit growth, comparable earnings, underlying effective tax rate and cash flow are all non-GAAP financial measures. See the tables herein for important information regarding these measures and a full reconciliation to the most comparable GAAP measure.

For earnings history and earnings-related data on Kellogg Co. (K) click here.

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