NYSE$K
Kellanova · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Kellogg's reported better-than-expected results due to increased demand during the COVID-19 pandemic and the Deploy for Growth strategy.
Kellogg Company reported a decrease in net sales by 3.1%, but organic net sales increased by 8.0%. The company's performance was aided by increased demand due to the COVID-19 pandemic and the Deploy for Growth strategy. They affirmed their full-year financial guidance.
- Priorities have been ensuring employees' health and safety, supplying food, and aiding communities during the COVID-19 pandemic.
- The Deploy for Growth strategy continues to drive business momentum.
- Demand for products increased significantly in March due to consumers stocking up on packaged foods.
- The company affirmed its full-year financial guidance, with a shift in sales and earnings toward the first half of the year.
Headline financials
Revenue & EPS history
Kellanova · Revenue · Quarterly
$3.41B
Revenue by segment
Kellanova · $3.41B total across 4 segments · Q1 2020
- North America$2.1B—61.5%
- AMEA$562M—16.5%
- Europe$526M—15.4%
- Latin America$226M—6.6%
Forward guidance
Kellogg Company affirmed its full-year financial guidance, with sales and profit delivery shifting toward the first half of the year.
Tailwinds
- Organic net sales growth of +1-2%.
- Cash provided by operating activities is projected to be $1.5 to $1.6 billion.
- Capital expenditures are expected to be approximately $0.6 billion.
- Cash flow, defined as cash provided by operating activities reduced by capital expenditures, continues to be projected at $0.9 to $1.0 billion.
Headwinds
- Adjusted operating profit on a currency-neutral basis decline of approximately (4)%, as the absence of results from divested businesses more than offsets growth in the base business.
- Adjusted earnings per share, on a currency-neutral basis, decline of (3) to (4)%, as the absence of results from divested businesses more than offsets growth in the base business.
- Excluded from this guidance are significant supply chain or other market disruptions related to the pandemic or global economy.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 15 quarterly earnings reports
+0.6%
Avg return
Earnings day
+2.4%
Avg return
5 days after
+1.4%
Avg return
30 days after
49%
33 / 67 earnings
Positive
+8.9%
Q2 2019
Best reaction
-10.9%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q4 2025 | — | — | — | |
| Q3 2025 | +0.1% | +0.2% | +0.7% | |
| Q2 2025 | -0.0% | -0.1% | -0.4% | |
| Q1 2025 | -0.0% | -0.9% | -0.6% | |
| Q4 2024 | +0.3% | +0.4% | +0.7% | |
| Q3 2024 | -0.3% | +0.0% | +0.3% | |
| Q2 2024 | +8.3% | +26.1% | +38.3% | |
| Q1 2024 | +6.2% | +8.2% | +5.8% | |
| Q4 2023 | -0.4% | +1.0% | +1.0% | |
| Q3 2023 | +2.2% | +2.6% | +5.5% | |
| Q2 2023 | -2.8% | -4.8% | -10.2% | |
| Q1 2023 | -1.7% | -1.5% | -5.8% | |
| Q4 2022 | +0.7% | -0.0% | -5.0% | |
| Q3 2022 | -7.9% | -5.8% | -2.6% | |
| Q2 2022 | +1.5% | +1.7% | -1.7% | |
| Q1 2022 | +7.2% | +7.5% | -0.2% | |
| Q4 2021 | +3.5% | +4.6% | -3.1% | |
| Q3 2021 | -1.2% | — | — | |
| Q2 2021 | +1.9% | — | — | |
| Q1 2021 | +6.2% | — | — | |
| Q4 2020 | -1.3% | — | — | |
| Q3 2020 | -0.9% | — | — | |
| Q2 2020 | -2.7% | — | — | |
| Q1 2020 | -0.1% | — | — | |
| Q4 2019 | -7.5% | — | — | |
| Q3 2019 | +4.6% | — | — | |
| Q2 2019 | +8.9% | — | — | |
| Q1 2019 | -4.9% | — | — | |
| Q4 2018 | -6.4% | — | — | |
| Q3 2018 | -10.9% | — | — | |
| Q2 2018 | +3.9% | — | — | |
| Q1 2018 | +5.5% | — | — | |
| Q4 2017 | +4.9% | — | — | |
| Q3 2017 | +7.0% | — | — | |
| Q2 2017 | +3.2% | — | — | |
| Q1 2017 | +2.5% | — | — | |
| Q4 2016 | +3.4% | — | — | |
| Q3 2016 | -0.1% | — | — | |
| Q2 2016 | +2.0% | — | — | |
| Q1 2016 | -2.6% | — | — | |
| Q4 2015 | +5.8% | — | — | |
| Q3 2015 | -2.7% | — | — | |
| Q2 2015 | +3.9% | — | — | |
| Q1 2015 | -1.8% | — | — | |
| Q4 2014 | -4.7% | — | — | |
| Q3 2014 | +2.4% | — | — | |
| Q2 2014 | -3.6% | — | — | |
| Q1 2014 | -1.8% | — | — | |
| Q4 2013 | +1.7% | — | — | |
| Q3 2013 | +1.3% | — | — | |
| Q2 2013 | -1.5% | — | — | |
| Q1 2013 | -1.5% | — | — | |
| Q4 2012 | +1.5% | — | — | |
| Q4 2011 | +2.0% | — | — | |
| Q3 2012 | +2.6% | — | — | |
| Q2 2012 | +5.3% | — | — | |
| Q1 2012 | -0.3% | — | — | |
| Q3 2011 | -1.0% | — | — | |
| Q2 2011 | -1.4% | — | — | |
| Q1 2011 | -0.4% | — | — | |
| Q1 2010 | +1.0% | — | — | |
| Q4 2007 | -0.3% | — | — | |
| Q4 2010 | -0.3% | — | — | |
| Q3 2009 | +0.8% | — | — | |
| Q3 2010 | +0.8% | — | — | |
| Q2 2010 | -0.1% | — | — | |
| Q4 2009 | -0.1% | — | — | |
| Q2 2009 | -0.1% | — | — |
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