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    Earnings Preview: Kellogg's 4th quarter

    Kellogg Co. to report 4Q results Thursday, winding down year marked by supply-chain spending

    By The Associated Press | Associated Press – Tue, Jan 31, 2012

    PORTLAND, Ore. (AP) -- Kellogg Co., one of the country's largest food makers, is expected to report an uptick in its fourth-quarter profit before the stock market opens on Thursday as it wraps up another challenging year.

    WHAT TO WATCH FOR: An update on its supply-chain investments.

    Kellogg announced last quarter that it was increasing its investment in its supply chain after a series of problems at its plants. The Food and Drug Administration found traces of listeria bacteria at its baker in Augusta, Ga., last year during an inspection. That followed a major cereal recall the prior year and problems at another plant that led to a shortage of Eggos.

    The cereal recall and Eggo issues took a major toll on its 2010 fiscal year, and problems with the supply chain continued in 2011.

    Kellogg said it learned its lessons from those experiences and is investing in its supply chain to avoid future problems. These added costs led the company to lower its full-year outlook in June.

    The company has also dealt with ongoing pressure from high costs for ingredients and other commodities as well as tough competition.

    Some investors are frustrated with the company's ongoing problems and will be looking for signs of stabilization.

    WHY IT MATTERS: Kellogg's products include Frosted Flakes cereal, Eggo waffles and Keebler cookies. The safety of its food impacts people across the country. The company's financial performance also provides insight into how much consumers are able to spend on basics.

    WHAT'S EXPECTED: Analysts polled by FactSet expect the company to earn 62 cents per share on revenue of $2.99 billion.

    THE YEAR-AGO QUARTER: Kellogg earned $189 million, or 51 cents per share, on revenue of $2.86 billion.

     

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