Kellogg Company: Reports 2019 Fourth Quarter Results

Battle Creek / MG. (kc) Kellogg Company announced fourth quarter and full year 2019 results and provided a financial outlook for 2020. Highlights:

  • The Company delivered full year net sales growth on a reported and organic basis.
  • The Company’s results finished the year within or better than its guidance ranges for each of its key metrics: Currency-neutral net sales, currency-neutral adjusted operating profit, currency-neutral adjusted earnings per share, and cash flow.
  • The divestiture of non-core businesses in late July enhances the long-term focus, profitability, and underlying growth of the Company’s portfolio, while the absence of their results caused a decline in reported net sales and operating profit in the fourth quarter and the second half of the year.
  • In the fourth quarter, the Company sustained its return to organic-basis net sales growth, featuring broad-based growth and improved balance between volume and price.
  • Productivity actions, revenue growth management, and savings from organizational restructurings progressively delivered savings throughout the year.
  • Kellogg issued guidance for 2020 that calls for sustained organic net sales growth, improved cash flow, and currency-neutral adjusted operating profit and earnings per share growth excluding the impact of its recent divestiture.

«In 2019, our primary financial objective was to deliver sales growth, and we did exactly that,» said Steve Cahillane, Kellogg Company’s Chairman and Chief Executive Officer. «By executing our Deploy For Growth strategy, we posted sales growth for the full year, across key brands and categories. Importantly, we delivered this growth and our other financial commitments while realigning our organizational structure, reshaping our portfolio, and investing in our supply chain. These actions are building a foundation for steady, reliable growth in sales, profit, and cash flow for years to come.»

For detailed information please read the Company’s PDF file on the Company’s server.