Kellogg (NYSE: K) reported Q4 EPS of $0.92, $0.07 better than the analyst estimate of $0.85. Revenue for the quarter came in at $3.1 billion versus the consensus estimate of $3.07 billion.

"Our fourth quarter earnings exceeded our expectations, as operating-profit margins continued to improve, and as we again showed sequential improvement in our sales performance," said John Bryant, Kellogg Company’s chairman and chief executive officer. “We also have announced that we are exiting our direct store delivery system in U.S. Snacks, in order to redirect our resources in a way that can better market our brands to today's evolving shopper and retail channels. This will keep us firmly on our path to our 2018 operating profit margin expansion target and lead to better top-line performance."

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