$K (Kellogg Company)

$K {{ '2016-06-20T13:47:15+0000' | timeago}} • Announcement

$K said 1894 intends to invest approx. $100MM and consequently, it will play an important role in achieving the $K's 2020 strategic growth objectives. 1894 will invest in emerging businesses in both the company's core categories and adjacent categories, and in companies that have developed new consumer-driven technologies.

$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.

$K {{ '2017-02-09T11:50:40+0000' | timeago}} • Announcement

$K said it will begin to exit its Direct Store Delivery (DSD) network in 2Q, transitioning the DSD-distributed portion of its U.S. Snacks business to the warehouse model already used by Pringles and the rest of its North American business. The new model will be transformational for $K, reducing complexity and cost structure.

$K {{ '2017-01-13T14:21:56+0000' | timeago}} • Announcement

$K said Fareed Khan will join the company effective February 17, 2017 and will be named as CFO and Principal Financial Officer the day after the Company's 10-K is filed. Khan will succeed current CFO Ron Dissinger, who will remain with $K in 2017 to ensure an orderly transition.

$K {{ '2016-11-01T15:25:06+0000' | timeago}} • Webcast

$K said its Project K is on track in delivering its financial objectives of about $100MM in savings. On zero based budgeting savings, $K added that its 2016 savings would be in the range of $150-180MM. Look at the recent outlook, the company expects to hit more towards the top end of that range or even exceed the range.

$K {{ '2016-11-01T15:10:19+0000' | timeago}} • Webcast

$K commented that the company is making money in the Nigeria investment and is profitable. The company added that it is making strong double digit growth and is also seeing strong growth in the business as it's on track with the acquisition.

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