Kellogg's: serves breakfast with a smile - Q4 EPS +17%

(CercleFinance.com) - Agrifood company Kellogg has reported a 16.
9% increase in adjusted EPS at constant exchange rates to $0.97 for the last three months of 2022, along with a 20% increase in adjusted operating profit (again excluding currency effects) to 434 million dollars.

The breakfast cereal maker's revenues rose 12% to 3.83 billion dollars (+16.2% organically), driven by positive price and mix effects, as well as strong momentum in snacks and emerging markets.

It expects adjusted EPS growth of 5.3% at constant exchange rates in 2022, albeit followed by a decline of 2%-4% in 2023, despite forecasts of a 7%-9% increase in adjusted operating profit excluding currency effects and organic sales growth of 5%-7%.



Copyright (c) 2023 CercleFinance.com. All rights reserved.