Kellogg boosts annual profit outlook on higher prices
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Kellogg (K) raises full-year guidance after topping Q2 estimates
August 3, 2023 10:18 AM EDTKellogg (NYSE: K) topped second-quarter profit expectations and raised sales and earnings guidance when it reported earnings before the open on Thursday.
The food manufacturing firm reported earnings of $1.24, $0.13 better than the analyst estimate of $1.11. However, revenue for the quarter came in at $4.04 billion, below the consensus estimate of $4.07 billion.
The company said its operating profit growth was driven by an earlier-than-expected recovery in its gross profit margin.
Kellogg shares are down 0.4% at the... More
