Kellogg Company: Reports 2021 First Quarter Results

Battle Creek / MG. (kc) Kellogg Company announced first quarter 2021 results and raised its full-year financial guidance. First quarter highlights:

  • During the global Covid-19 pandemic and unprecedented operating environment, Kellogg continues to execute well against its priorities of protecting our employees’ health and safety, supplying food to the marketplace, and aiding our communities.
  • Strong net sales growth was broad-based across regions and global categories despite lapping exceptional year-ago performance.
  • Operating profit and earnings per share grew on top of year-ago exceptional growth as higher net sales and operating leverage resulted in balanced financial delivery.
  • On the strength of this performance, the Company increased its full-year financial outlook.

«Amidst continued difficult circumstances, our organization executed exceptionally well in the first quarter and delivered very good results, both financially and in-market,» said Steve Cahillane, Chairman and Chief Executive Officer. «The quarter featured continued momentum in major brands and categories, accelerated growth in emerging markets, and effective management of cost pressures through productivity and revenue growth management.» Cahillane added, «This strong start to the year enables us to raise our full-year financial outlook, and underscores confidence in our ability to sustain balanced financial delivery.» For additional information please read the Company’s PDF file on the Company’s web server.