Kellogg Company Reports Strong Second Quarter 2020 Results, Raises Full-Year Outlook
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Kellogg (K) Tops Q2 EPS by 30c, Revenues Beat; Raises FY20 Outlook
July 30, 2020 8:03 AM EDTKellogg (NYSE: K) reported Q2 EPS of $1.24, $0.30 better than the analyst estimate of $0.94. Revenue for the quarter came in at $3.57 billion versus the consensus estimate of $3.3 billion.
Highlights:
During the global COVID-19 pandemic and unprecedented operating environment, Kellogg's priorities continue to be ensuring our employees' health and safety, supplying food to the marketplace, and aiding our communities.The pandemic drove elevated at-home demand during the quarter, particularly for the Company's cereal and frozen foods products in developed markets, leading to higher-than-expected net sales.Kellogg increased production to keep up... More