Kellogg Co
NYSE:K

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Kellogg Co Logo
Kellogg Co
NYSE:K
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Price: 83.15 USD 0.01%
Market Cap: 28.9B USD

Kellogg Co
Investor Relations

In the bustling world of packaged foods, Kellogg Co. stands as a stalwart of the breakfast table, symbolizing both tradition and evolution in the global food industry. Founded in 1906 by Will Keith Kellogg, the company carved its niche with corn flakes, revolutionizing the way people viewed breakfast. Over the decades, Kellogg expanded its portfolio beyond cereals, embracing a spectrum of snack foods and convenience offerings. Today, it boasts a wide array of iconic brands like Frosted Flakes, Special K, and Pringles, maintaining its presence in over 180 countries. The company operates through a diversified supply chain, carefully sourcing ingredients, manufacturing products in strategically located facilities, and utilizing a robust distribution network to ensure their offerings reach supermarket shelves and, eventually, households worldwide.

Kellogg's business model capitalizes on the ever-increasing demand for quick, nutritious meal options amidst today's fast-paced lifestyles. Revenue generation pivots on the company’s ability to innovate and cater to dynamic consumer preferences, such as increasing health consciousness and the shift towards plant-based and natural ingredients. Investments in marketing and global brand management amplify Kellogg’s voice, enabling it to compete fiercely in the saturated food and beverage sector. Additionally, strategic acquisitions and partnerships further solidify its market standing. As it continues to adapt to changing consumer habits, Kellogg embraces sustainability and social responsibility, aiming to appeal to both traditional customers and a new generation of environmentally conscious consumers.

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Last Earnings Call
Fiscal Period
Q2 2024
Call Date
Aug 1, 2024
AI Summary
Q2 2024

Guidance Raised: Kellanova raised its full-year 2024 guidance for organic net sales growth, operating profit, EPS, and free cash flow, reflecting better-than-expected first-half results.

Margin Expansion: Gross profit margin improved by close to 340 basis points year-on-year in Q2, and operating profit margin continues to advance ahead of pace, aided by productivity and moderating input cost inflation.

Volume Recovery: Volume trends showed sequential improvement in nearly all regions except Nigeria, with North America and Latin America returning to volume growth in Q2.

Innovation Acceleration: The company resumed a full innovation launch calendar post-pandemic, highlighted by the upcoming Cheez-It launch in Europe and Pringles Mingles in North America.

Balanced Price/Volume Strategy: Management emphasized a rational pricing approach, with a focus on restoring volume growth while maintaining profitability and brand investment.

Emerging Markets Mixed: Strong sales growth in Nigeria driven by currency-driven price increases, though volume there remains pressured; Latin America posted robust results, with Mexico and Brazil highlighted.

Brand Investment: Double-digit increase in brand-building spend in the first half, with further commercial activation planned for the second half.

Key Financials
Organic Net Sales Growth
4% in Q2
Adjusted Operating Profit
$1.85–$1.9B (guidance); up 16% YoY in Q2 (currency-neutral)
Earnings Per Share
Up 12% in Q2; up 14% on currency-neutral basis
Gross Profit Margin
Up close to 340 bps YoY in Q2
Free Cash Flow
Ahead of last year in first half
North America Organic Net Sales Growth
+1% in Q2
Latin America Organic Net Sales Growth
+4% in Q2
EMEA Organic Net Sales Growth
+16% in Q2
Snacks Organic Net Sales Growth (North America)
More than 1% in Q2
Snacks Organic Net Sales Growth (Europe)
1% YoY in Q2
Snacks Organic Net Sales Growth (Latin America)
4% YoY in Q2
Noodles and Other Organic Net Sales Growth (EMEA)
26% YoY in Q2
Snacks Organic Net Sales Growth (EMEA)
13% YoY in Q2
Cereal Organic Net Sales Growth (Latin America)
4% YoY in Q2
Cereal Organic Net Sales Growth (EMEA)
4% YoY in Q2
Earnings Call Recording
Other Earnings Calls

Management

Mr. Steven A. Cahillane
Chairman, CEO & President
No Bio Available
Mr. Amit Banati
Vice Chairman, Senior VP, CFO & Principal Financial Officer
No Bio Available
Mr. David Lawlor
Senior VP & President of Kellogg Europe
No Bio Available
Mr. Shumit Kapoor
Senior VP and President of Asia Pacific, Middle East & Africa
No Bio Available
Mr. Kurt D. Forche
VP, Corporate Controller & Principal Accounting Officer
No Bio Available
Ms. Lesley Salmon
Senior VP, Chief Digital & Information Officer
No Bio Available
Mr. John P. Renwick IV, C.F.A.
Vice President of Investor Relations & Corporate Planning
No Bio Available
Mr. Todd W. Haigh
Senior VP & Chief Legal Officer
No Bio Available
Ms. Marcella Kain
Senior Sales Director
No Bio Available
Ms. Melissa A. Howell
Senior VP of Global Human Services & Chief Human Resources Officer
No Bio Available

Contacts

Address
MICHIGAN
Battle Creek
PO Box 3599, 1 Kellogg Sq
Contacts