Kellogg Misses, Provides Guidance
Posted on November 03, 2011 at 14:50 PM EDT
Kellogg Company (NYSE:K) has posted third-quarter 2011 earnings of 80 cents per share, missing the Zacks Consensus Estimate of 89 cents. The earnings also lagged the prior-year earnings of 90 cents per share by 11%. On a currency-neutral basis, the earnings in the reported quarter plummeted 13% year over year. Kellogg’s results were driven by [...]

Kellogg Company (NYSE:K) has posted third-quarter 2011 earnings of 80 cents per share, missing the Zacks Consensus Estimate of 89 cents. The earnings also lagged the prior-year earnings of 90 cents per share by 11%. On a currency-neutral basis, the earnings in the reported quarter plummeted 13% year over year.

Kellogg’s results were driven by weak economic environment, increased cost of goods sold, increased supply-chain costs and due to the reinstatement of incentive compensation … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


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