Kellogg Company (NYSE:K) stock was up today following the release of a positive earnings report for the first quarter of 2018.
Earnings per share reported by Kellogg Company for the first quarter of the year was $1.19. This is an increase over the food company’s earnings per share of $1.07 from the same period of the year prior. It was also good news for K stock by coming in above Wall Street’s earnings per share estimate of $1.08 for the quarter.
Kellogg Company reported net income of $444 million for the first quarter of 2018. This is much better than its net income of $266 million reported in the first quarter of 2017.
Operating income reported by Kellogg Company for the first quarter of the year came in at $510 million. The food manufacturing company’s operating income reported for the same time last year was $280 million.
Kellogg Company also reported revenue of $3.40 billion for the first quarter of 2018. This is up from its revenue of $3.35 billion that was reported in the same quarter of the previous year. It also beat out analysts’ revenue estimate of $3.30 billion for the period.
Kellogg Company also took time in its most recent earnings report to update its guidance for the full year of 2018. The company says that it is expecting revenue growth for the year to be between 3% and 4%. As far as earnings per share go, K is still expecting growth to range from 9% to 11% for the year.
K stock was up 2% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
