Kellogg Boosts FY22 Sales Growth Outlook - Update

(RTTNews) - While reporting its financial results for the first quarter on Thursday, Kellogg Co. (K) raised its organic net sales growth guidance for the full year 2022.

For fiscal 2022, the company now projects currency-neutral adjusted earnings per share growth of about 1 to 2 percent on organic net sales growth of about 4 percent, led by price/mix growth.

Previously, the company expected currency-neutral adjusted earnings per share growth of about 1 to 2 percent on organic net sales growth of about 3 percent, led by price/mix growth.

The increased sales guidance reflects momentum in its business, particularly snacks globally and noodles in Africa, as well as by higher price/mix growth required to cover incremental cost inflation in the economy.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.06 per share on a revenue growth of 1.6 percent to $14.41 billion for the year. Analysts' estimates typically exclude special items.