Kellogg (NYSE: K) reported Q3 EPS of $0.91, $0.05 better than the analyst estimate of $0.86. Revenue for the quarter came in at $3.43 billion versus the consensus estimate of $3.37 billion.

Kellogg Raises Full-Year Financial Guidance

Kellogg Company raised its full-year financial guidance on the strength of its third quarter results. Specifically, the Company's revised guidance for the full year is:

• Organic net sales growth is now expected to finish 2020 at approximately 6% year on year, up from previous guidance of approximately 5%.

• Currency-neutral adjusted operating profit growth is now projected to grow approximately 2% year on year, an improvement from previous guidance of a decline of approximately (1)%, and still weighed down by the absence of businesses divested in July, 2019.

• Currency-neutral adjusted earnings per share for the full year is now estimated to increase by approximately 2% year on year, an improvement from previous guidance of a decline of about (1)%, and still weighed down by the absence of businesses divested in July, 2019.

• Net cash provided by operating activities is now expected to finish 2020 at $1.8 to $1.9 billion, well above the previous guidance range of $1.5-1.6 billion, with capital expenditure of approximately $0.5 billion. As a result, cash flow is now expected to finish 2020 at $1.3 to $1.4 billion, a significant improvement from the previous guidance of approximately $1.0 billion.

Excluded from this guidance are any significant supply chain or other prolonged market disruptions related to the pandemic or global economy.

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