Kellogg (K) Tops Q3 EPS by 9c; Raises Outlook
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Kellogg Company Reports Third Quarter 2016 Results
November 1, 2016 8:01 AM EDTBATTLE CREEK, Mich., Nov. 1, 2016 /PRNewswire/ --Â Kellogg Company (NYSE: K) today announced third-quarter 2016 results, updated its earnings outlook for 2016, and reiterated its plans and progress toward improved profit margins for 2017.
"Our third quarter earnings exceeded our expectations, on the strength of good operating margin expansion and a favorable tax rate," said John Bryant, Kellogg Company's chairman and chief executive officer. "Our sales were affected by trade-inventory reductions in U.S. cereal, a challenging U.K. market, and portfolio transformations that have taken longer than anticipated to execute. ... More
