Earnings Preview: Kellogg

| About: Kellogg Company (K)

Kellogg (NYSE:K) is expected to report Q2 earnings before the open on Thursday, August 2, with a conference call scheduled for 9:30 am ET.


Analysts are looking for a profit of 84c on revenue of $3.39B. The consensus range is 80c-87c for EPS, and revenue of $3.28B-$3.62B, according to First Call. In its last report, Kellogg lowered its FY12 EPS view by about 2% to $3.18-$3.30, citing the expected impact of its Pringles acquisition, its continued investment plans, and its lower-than-originally-anticipated share repurchases. At that time, the company said it sees cost of goods inflation for the year of about 7%. Investors will be anxious to see if that view has changed given the recent rally in the grain markets.

Analyst Views

UBS said recently in a note to investors that it was lowering its estimates for Kellogg due to lower accretion from the Pringles acquisition driven by Euro weakness and sluggish U.S. volumes. The firm kept a Neutral rating on the stock and lowered its price target to $49 from $54.

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