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Kellogg Co (K)

K on New York Consolidated

72.68USD
25 May 2017
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Latest Key Developments (Source: Significant Developments)

Kellogg company reports 2017 first quarter results
Thursday, 4 May 2017 08:00am EDT 

May 4 (Reuters) - Kellogg Co : :Kellogg company reports 2017 first quarter results.Kellogg Co - qtrly reported diluted earnings per share $ 0.74.Says company reaffirms its guidance for currency-neutral operating profit and earnings per share, as well as for cash flow.Kellogg Co - qtrly comparable diluted earnings per share $ 1.06.Kellogg Co qtrly reported net sales $3,254 million, down 4.1 percent.Kellogg Co - qtrly U.S. Morning foods net sales $719 million versus $767 million.Says " got off to a slow start on net sales, as mentioned previously, but we expect sequential improvement in coming quarters".Q1 earnings per share view $0.99, revenue view $3.28 billion -- Thomson Reuters I/B/E/S.Kellogg Co - on track toward full-year 2017 forecasts for currency-neutral comparable operating profit, earnings and cash flow.Kellogg Co - qtrly U.S. snacks net sales $781 million versus $832 million.Kellogg Co - qtrly currency-neutral comparable eps $ 1.09.Kellogg Co - Q1 reported, currency-neutral comparable net sales decreased, owing to softness in underlying consumption, particularly early in quarter.Kellogg co - "U.S. Morning foods, U.S. Snacks, and Europe region got off to a soft start to the year".  Full Article

Kellogg executive says expects to see sequential improvement in Q2 - conf call
Thursday, 4 May 2017 07:40am EDT 

May 4 (Reuters) - :Kellogg CEO - experienced reduction in trade inventory in Q1 due to early shipments in Q4 in categories in U.S. - conf call.Kellogg CEO - encountered customer-specific interruptions in Q1, related to price pack changes on Pringles to cover input costs, product reformulations, currency - conf call.Kellogg executive - "Q1 was not the norm", expect to see sequential improvement in Q2 with further improvement coming in the second half - conf call.  Full Article

Kellogg declares regular dividend of $0.52 per share, plans to raise dividend to $0.54 per share beginning Q3 2017
Friday, 28 Apr 2017 11:05am EDT 

April 28 (Reuters) - Kellogg Co ::Kellogg Company declares regular dividend of $0.52 per share and announces plans for 4% dividend increase.Board of directors announced plans to increase quarterly dividend by four percent to $0.54 per share beginning with Q3 of 2017.  Full Article

Kellogg Co says three-year extension of its collegiate multimedia rights partnership with IMG
Monday, 3 Apr 2017 02:08pm EDT 

Kellogg Co :Kellogg Co says three-year extension of its collegiate multimedia rights partnership with IMG.  Full Article

Kellogg's Cheez-It and Pringles announce multi-year partnership with Major League Soccer
Thursday, 2 Mar 2017 09:01am EST 

Kellogg Co :Says Cheez-It and Pringles officially announced a multi-year partnership with Major League Soccer.  Full Article

Kellogg Company declares regular dividend of $0.52 per share
Friday, 17 Feb 2017 01:51pm EST 

Kellogg Co :Kellogg Company declares regular dividend of $0.52 per share.  Full Article

Kellogg Company qtrly comparable EPS $0.92
Thursday, 9 Feb 2017 08:00am EST 

Kellogg Co : Kellogg company reports 2016 fourth quarter and full-year financial results . Kellogg co - qtrly loss per share $0.15 . Kellogg co - qtrly comparable earnings per share $0.92 . Q4 earnings per share view $0.85 -- Thomson Reuters I/B/E/S . Kellogg co - q4 u.s. Morning foods net sales $704 million versus $712 million . Kellogg co - q4 u.s. Snacks net sales $767 million versus $750 million . Qtrly reported net sales $3.10 billion versus $3.14 billion . Q4 earnings per share view $0.85, revenue view $3.08 billion -- Thomson Reuters I/B/E/S . Q4 revenue view $3.08 billion -- Thomson Reuters I/B/E/S . Kellogg co - currency-neutral comparable net sales are expected to decline by about 2% in 2017 . Kellogg co - exit from dsd is expected to be neutral to operating profit in 2017 . Sees 2017 eps on a currency-neutral comparable basis of $4.03-$4.09 . Kellogg co - transition from dsd will be primarily executed during q2 and a3, encompassing a reduction in workforce . Kellogg co - including impact of currency translation, comparable-basis earnings per share are expected to be $3.91-3.97 in 2017 . Kellogg says anticipates reduction in net sales in u.s. Snacks in 2017, owing to initial volume disruption, impact of reducing stock-keeping units . Kellogg - transition from dsd will contribute to expanded project k program whose savings now extend through 2019 . 2017 cash from operating activities should be approximately $1.6-1.7 billion.  Full Article

Kellogg Co will begin to exit its direct store delivery network in Q2
Wednesday, 8 Feb 2017 04:45pm EST 

Kellogg Co : Kellogg Co - will begin to exit its direct store delivery (dsd) network in Q2 . New model "will be transformational" for Kellogg, reducing complexity and cost structure . Kellogg Co - transition from DSD network will be complete in Q4 of 2017 . Kellogg Co - company is providing severance and benefits, as well as offering retention packages for impacted employees . Kellogg Co- moving to warehouse model will also allow company to reduce complexity and bring benefits to both retail partners and Kellogg . Initiative will be part of an expanded project K program . Company expects initiative to bring U.S. Snacks' operating profit margin in line with that of Kellogg North America . Kellogg Co - "after a transition period, company expects this initiative to contribute to accelerating its top-line growth over time" .Kellogg - transitioning dsd-distributed portion of co's U.S. Snacks business to warehouse model used by pringles, rest of its north american business.  Full Article

Kellogg Co entered into an unsecured 364-day credit agreement dated as of January 31 - SEC Filing
Wednesday, 1 Feb 2017 05:12pm EST 

Kellogg Co : Kellogg Co- On Jan 31, 2017 Kellogg Company entered into an unsecured 364-day credit agreement dated as of January 31, 2017 - SEC Filing .Kellogg Co says new credit facility allows borrower, to borrow, on a revolving credit basis up to $800 million at any time outstanding - SEC Filing.  Full Article

Kellogg company names Fareed Khan as chief financial officer
Friday, 13 Jan 2017 09:00am EST 

Kellogg Co - : Kellogg company names Fareed Khan as chief financial officer . Kellogg company names Fareed Khan as chief financial officer . Kellogg co says Khan will succeed current CFO Ron Dissinger, who will remain with company in 2017 to ensure an orderly transition .Khan joins Kellogg from US Foods Holding Corp where he has held CFO position since 2013.  Full Article

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BRIEF-Kellogg executive says expects to see sequential improvement in Q2 - conf call

* Kellogg CEO - experienced reduction in trade inventory in Q1 due to early shipments in Q4 in categories in U.S. - conf call