Kellogg reports Q2 EPS $1.24, consensus $1.01

Reports Q2 revenue $4.04B, consensus $3.7B. CEO Steve Cahillane says: “Our second quarter featured continued strength of our brands, execution, and results. Not only do we continue to grow net sales organically above our long-term targets, we are also seeing the results of our efforts to recover profit margins. These better-than-expected results and raised full-year outlook indicate a strong attention to business delivery, even as we execute the transformational separation of Kellogg Company into two, more focused companies: The global, snacking-oriented Kellanova, and our North America cereal business, WK KelloggCo. That we are advancing toward the spin-off while delivering strong results is a credit to the engagement of our employees.”