BATTLE CREEK (dpa-AFX) - Kellanova (K) announced a profit for its first quarter that increased from the same period last year but missed the Street estimates.
The company's earnings totaled $304 million, or $0.87 per share. This compares with $267 million, or $0.78 per share, last year.
Excluding items, Kellanova reported adjusted earnings of $0.90 per share for the period.
Analysts on average had expected the company to earn $1.01 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 3.7% to $3.083 billion from $3.200 billion last year.
Kellanova earnings at a glance (GAAP) :
-Earnings: $304 Mln. vs. $267 Mln. last year. -EPS: $0.87 vs. $0.78 last year. -Revenue: $3.083 Bln vs. $3.200 Bln last year.
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