BATTLE CREEK (dpa-AFX) - Kellogg Company (K) said, for the full year, the company now expects currency-neutral adjusted earnings per share to increase by approximately 2% year on year, an improvement from prior guidance of a decline of about 1%. Currency-neutral adjusted operating profit growth is now projected to grow approximately 2%, an improvement from previous guidance of a decline of approximately 1%. The company now estimates organic net sales growth at approximately 6%, up from previous guidance of approximately 5%.
Third quarter currency neutral adjusted earnings per share was $0.91 compared to $1.03, previous year. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.87, for the quarter. Analysts' estimates typically exclude special items. On a currency-neutral basis, adjusted operating profit increased over 4%.
Third quarter reported net sales were $3.43 billion compared to $3.37 billion, previous year. On an organic basis, net sales were up 4.5%, for the quarter. Analysts expected revenue of $3.4 billion, for the quarter.
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