$K (Kellogg Company)

$K {{ '2016-05-05T14:57:26+0000' | timeago}} • Announcement

$K said Ron Dissinger has decided to retire as CFO at the end of 2016. Dissinger will step down as CFO effective Dec. 31, but he will remain with Kellogg into 2017 to help ensure an orderly transition to his successor. An internal and external search for a new company CFO will now commence.

$K {{ '2017-08-03T15:31:50+0000' | timeago}} • Infographic

$K Kellogg Company Earnings AlphaGraphics: Q2 2017 highlights

$K {{ '2017-08-03T12:30:13+0000' | timeago}} • Announcement

$K still believes currency-neutral comparable operating profit will grow 7-9% year on year for FY17, as productivity savings offset the impact of lower net sales. Kellogg Co still expects to generate growth of 8-10% off a 2016 base that excludes after-tax $0.02 from deconsolidated Venezuela results to $4.03-4.09.

$K {{ '2017-08-03T12:28:03+0000' | timeago}} • Announcement

While posting 2Q17 results, $K continues to forecast a decline in currency-neutral comparable net sales of about 3% in 2017, with no change to its estimates for the DSD exit's impact or for the rest of the business.

$K {{ '2017-08-03T12:26:40+0000' | timeago}} • Announcement

Cereal maker $K posted a 2.5% dip in net sales of $3.19Bil in 2Q17, while net income rose almost 1% to $282MM or $0.80 per diluted share. Comparable net sales slipped 3.8% to $3.14Bil and comparable diluted earnings grew 6.6% to $0.97 per share.

$AVP {{ '2017-06-21T15:48:06+0000' | timeago}} • Announcement

$AVP appointed Jonathan Myers as EVP and COO, effective Sept. 1, 2017. Most recently, Jonathan served as $K's VP, Western European Markets, and Managing Director, UK and Ireland. Last week, $AVP appointed Miguel Fernandez as Global President responsible for Commercial Business Operations.

$K {{ '2017-06-08T20:41:48+0000' | timeago}} • Announcement

Cereal maker $K has elected Carter Cast to its board of directors, effective June 15, 2017. Cast has served as CEO of Walmart.com and online retail company Hayneedle. Earlier, he served as VP of product marketing at Electronic Arts. Currently, Cast is a faculty at Northwestern University's Kellogg School of Management.

$K {{ '2017-05-04T15:14:57+0000' | timeago}} • Infographic

$K Kellogg Company Earnings AlphaGraphics: Q1 2017 highlights

$K {{ '2017-05-04T14:51:35+0000' | timeago}} • Webcast

$K said it still has some cash costs associated with few restructurings initiatives that are in place. The company said it is still focused on working capital and other initiatives, and believes it can achieve its target of $1.1-1.2Bil cash flow for 2017.

$K {{ '2017-05-04T14:33:26+0000' | timeago}} • Webcast

On operating profit, $K continues to project 350 basis point margin growth through 2018. The company had a lift in the operating profit margin in 1Q17, and sees margin expansion of more than basis points for 2017.

$K {{ '2017-05-04T12:56:13+0000' | timeago}} • Announcement

$K now forecasts a decline in currency-neutral comparable net sales of about 3% in FY17, with comparable-basis EPS expected at $3.91-3.97. “While it is important that we are on track to deliver on our 2017 currency-neutral comparable profit and earnings outlook, we remain committed to returning to top-line growth,” said CEO John Bryant.

$K {{ '2017-05-04T12:53:06+0000' | timeago}} • Announcement

Reported sales of cereal maker $K fell 4.1% to $3.25Bil in 1Q17, as it posted a 49.7% jump in net income of $262MM from $175MM a year ago. Earnings soared 51% to $0.74 per diluted share from $0.49 a share, due to year-ago interest costs of a bond tender and a lower tax rate.

$K {{ '2017-04-28T17:46:30+0000' | timeago}} • Announcement

The BoD of $K declared regular quarterly dividend of $0.52 per share on its common stock. The dividend will be payable on June 15, 2017 to shareowners of record on June 1, 2017. The ex-dividend date is May 30, 2017. In addition, the company's BoD announced plans to lift quarterly dividend by 4% to $0.54 per share beginning with 3Q17.

$K {{ '2017-02-17T19:00:34+0000' | timeago}} • Announcement

$K's BoD declared a dividend of $0.52 per share on its common stock, payable on March 15, 2017, to shareowners of record on March 1, 2017. The ex-dividend date is February 27, 2017.

$K {{ '2017-02-09T15:48:54+0000' | timeago}} • Webcast

$K expects GM to expand in 2017 and this includes some headwind from the price reductions it will take in the US Snacks business. The company is seeing some deflation in materials overall. $K is seeing some transactional currency exposure and general inflation in wages and logistics costs. Taking together these factors, $K expects GM expansion.

$K {{ '2017-02-09T15:31:10+0000' | timeago}} • Webcast

$K aims to bring the operating margins of the Snacks division up to in line with the North American operating margins for the whole company. This is expected to happen in 2018 and 2019. The company expects an operating margin expansion of 350BP in 2018 as part of its guidance. $K hopes to expand margins going into 2019 and beyond.

$K {{ '2017-02-09T15:12:21+0000' | timeago}} • Webcast

$K's North America Other segment, which comprises of US Frozen Foods, Canada and Kashi, underwent some major changes such as SKU lineups, food and packaging overhauls and new pricing strategies.  During 4Q16, there was some modest sequential improvement in revenues with substantially better profit and profit margin performance.

$K {{ '2017-02-09T14:53:10+0000' | timeago}} • Webcast

$K decided to exit its Direct Store Delivery selling and distribution system, shifting roughly 60% of its US Snacks segment to the warehouse distribution system through which it currently distributes the rest of US Snacks and all of its other North America businesses. The company expects a reduction in net sales in US Snacks during 2017.

$K {{ '2017-02-09T13:35:33+0000' | timeago}} • Announcement

$K expects 2017 currency-neutral comparable net sales to decline by about 2%, while still predicting comparable operating profit growth of 7-9%. $K expects 2017 to generate growth on EPS, on a currency-neutral comparable basis, of 8-10% off a 2016 base to $4.03-4.09. $K sees comparable EPS of $3.91-3.97 and cash flow of about $1.6-1.7Bil.

$K {{ '2017-02-09T13:31:10+0000' | timeago}} • Announcement

$K's 4Q16 sales from U.S. Morning Foods slid 1.1% from last year, U.S. Snacks rose 2.3%, U.S. Specialty increased 5.1%, North America Other decreased 3.4%, Europe tumbled 9.1%, Latin America dropped 1.6% and Asia Pacific sales rose 1.8%.

$K {{ '2017-02-09T13:30:38+0000' | timeago}} • Announcement

Ready-to-eat cereal maker $K reported a wider 4Q16 loss due to charges for deconsolidating its Venezuela subsidiary, higher restructuring costs and adverse currency translation. Net loss widened to $52MM or $0.15 per share from $40MM or $0.12 per share last year. Net sales declined 1.4% to $3.1Bil. Comparable EPS grew 16.5% to $0.92.

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