Yahoo Finance How is Kellogg (K) Positioned Ahead of Q1 Earnings Release?
Kellogg Company K is likely to register top-line growth when it reports first-quarter 2023 earnings on May 4. The Zacks Consensus Estimate for revenues is pegged at $3,957 million, suggesting a jump of 7.8% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for the bottom line has remained unchanged in the past 30 days at $1 per share. The projection suggests a 9.1% decline from the year-ago quarter’s reported figure.
Kellogg has a trailing four-quarter earnings surprise of 12.3%, on average. This snacks and convenience food company delivered an earnings surprise of 11.9% in the last reported quarter.
We expect first-quarter revenues to grow 3.6% to $3,805.9 million and adjusted earnings per share (EPS) to decline to $1.
Kellogg Company Price, Consensus and EPS Surprise
Kellogg Company price-consensus-eps-surprise-chart | Kellogg Company Quote
Factors to Consider
Kellogg has been gaining from revenue growth management, momentum across snacks and emerging markets as well as recovery in the North America cereal business. Management expects price realization, momentum in its categories and solid brand plans to contribute to its net sales growth in 2023. This bodes well for the quarter under review.
Kellogg has been seeing the adverse impacts of input cost inflation stemming from global constraints and shortages. Escalated SG&A expenses have also been a concern. These factors may have affected Kellogg’s profits in the first quarter.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Kellogg this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.
Kellogg has a Zacks Rank #3 and an Earnings ESP of +0.17%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks With the Favorable Combination
Here are three other companies you may want to consider as our model shows that these also have the right combination of elements to post an earnings beat:
Sysco Corporation SYY currently has an Earnings ESP of +3.07% and a Zacks Rank of 3. The company is likely to register a top-and-bottom-line increase when it reports third-quarter fiscal 2023 results. The consensus mark for SYY’s quarterly revenues is pegged at $18.7 billion, which suggests a jump of 10.8% from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Sysco’s bottom line has remained unchanged at 92 cents per share in the past 30 days. The consensus estimate indicates a 29.6% improvement from the year-ago quarter’s figure.
TreeHouse Foods THS has an Earnings ESP of +19.75% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for its quarterly revenues is pegged at around $849 million, which suggests a decline of 25.6% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for TreeHouse Foods’ quarterly earnings has moved up 5.4% in the past 30 days to 39 cents per share against the year-ago quarter’s reported figure of a loss of 15 cents. THS has a trailing four-quarter earnings surprise of 48.8%, on average.
Tyson Foods TSN has an Earnings ESP of +0.65% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for its quarterly revenues is pegged at $13.6 billion, which suggests growth of 3.9% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Tyson Foods’ quarterly earnings has risen by 2 cents in the past 30 days to 78 cents per share, implying a 65.9% decline from the year-ago quarter’s reported number. TSN has a trailing four-quarter negative earnings surprise of 3.6%, on average.
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Tyson Foods, Inc. (TSN) : Free Stock Analysis Report
Kellogg Company (K) : Free Stock Analysis Report
Sysco Corporation (SYY) : Free Stock Analysis Report
TreeHouse Foods, Inc. (THS) : Free Stock Analysis Report
