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Kellogg Company Reports Operating Results (10-Q)

November 05, 2012 | About:

Kellogg Company (NYSE:K) filed Quarterly Report for the period ended 2012-09-29.

Kellogg Company has a market cap of $18.92 billion; its shares were traded at around $53.99 with a P/E ratio of 15.9 and P/S ratio of 1.4. The dividend yield of Kellogg Company stocks is 3.3%. Kellogg Company had an annual average earning growth of 4.8% over the past 10 years. GuruFocus rated Kellogg Company the business predictability rank of 5-star.

Highlight of Business Operations:

For the quarter ended September 29, 2012, our reported net sales, which includes the impact of the operating results of the Pringles business, increased by 12% and internal net sales increased by 3%, in line with our expectations. We experienced solid growth for the quarter in North America, Asia Pacific and most of Latin America outside of Mexico. Operating environments in Europe continued to be difficult, although we are seeing continued improvement in sales trends for the segment with year-over-year sales growth for the quarter in our two largest markets, the UK and France. Reported operating profit, which includes the impact of the operating results of the Pringles business, and integration costs related to the acquisition of Pringles, increased by 3%. Internal operating profit declined by 5%. Internal operating profit was negatively impacted by anticipated commodity inflation, the recall, and increased brand-building investments. Diluted earnings per share (EPS) of $.82, was up 3% compared to the prior year EPS of $.80. EPS includes $.04 negative impact of transaction and integration costs. This EPS performance was in line with expectations communicated with the announcement of first-quarter earnings.

Our net cash used in investing activities for the year-to-date period ended September 29, 2012 amounted to $2.928 billion compared to $381 million in the same period of 2011. The year-over-year increase was primarily attributable to $2.674 billion acquisition of Pringles. For full-year 2012, we project capital spending of approximately 4% of net sales.

Read the The complete Report

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