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Kellogg (K) Q1 2018 Results - Earnings Call Transcript

May 03, 2018 2:23 PM ETKellogg Company (K)
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Kellogg Co. (NYSE:K) Q1 2018 Earnings Call May 3, 2018 9:30 AM ET


John Renwick, CFA - Kellogg Co.

Steven A. Cahillane - Kellogg Co.

Fareed A. Khan - Kellogg Co.

Amit Banati - Kellogg Co.


David Cristopher Driscoll - Citigroup Global Markets, Inc.

Rob Dickerson - Deutsche Bank Securities, Inc.

David Palmer - RBC Capital Markets LLC

Timothy S. Ramey - Pivotal Research Group LLC

Christopher R. Growe - Stifel, Nicolaus & Co., Inc.

John Joseph Baumgartner - Wells Fargo Securities LLC

Alexia Jane Howard - Sanford C. Bernstein & Co. LLC

Robert Moskow - Credit Suisse Securities (USA) LLC

Kenneth B. Goldman - JPMorgan Securities LLC


Good morning. Welcome to the Kellogg Company First Quarter 2018 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer period. Please note this event is being recorded. Thank you.

At this time, I will turn the call over to John Renwick, Vice President of Investor Relations and Corporate Planning for Kellogg Company. Mr. Renwick, you may begin your conference call.

John Renwick, CFA - Kellogg Co.

Thanks, Gary. Good morning and thank you for joining us today for a review of our first quarter 2018 results. I'm joined this morning by: Steve Cahillane, our Chairman and CEO; Fareed Khan, our Chief Financial Officer; and Amit Banati, our President of Asia Pacific, who's calling in from Singapore to update you not only on our strong performance and outlook in that region, but also on some exciting news we have in West Africa.

Slide number 2 shows our unusual forward-looking statements disclaimer. As you are aware, certain statements made today, such as projections for Kellogg Company's future performance, including earnings per share, net sales, profit margins, operating profit, interest expense, tax rate, cash flow, brand building, upfront costs, investments and

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