Kellogg Company Reaffirms FY 2012 Guidance

Kellogg Company reaffirmed its fiscal 2012 guidance for internal net sales growth, which is expected to increase by 4% to 5%, greater than long-term annual targets and reflecting both improvement in price/mix and a stronger innovation pipeline. Kellogg expects fiscal 2012 operating profit to be unchanged or slightly greater as Kellogg continues to invest in future growth. Fiscal 2012, currency-neutral earnings per share are anticipated to grow between 2% and 4% including the impact of continued investments in supply chain, an update of Kellogg's SAP platform, an increase in the level of investment in brand building, and a benefit from the three-year $2.5 billion share repurchase program. According to I/B/E/S Estimates, analysts are expecting Kellogg to report EPS of $3.48 for fiscal 2012.