BATTLE CREEK, Mich. (AP) — Kellogg Co. on Thursday reported a loss of $53 million in its fourth quarter.
On a per-share basis, the Battle Creek, Michigan-based company said it had a loss of 15 cents. Earnings, adjusted for non-recurring costs, were 92 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
The maker of Frosted Flakes, Pop Tarts and Eggo waffles posted revenue of $3.1 billion in the period, which met Street forecasts.
For the year, the company reported profit of $694 million, or $1.96 per share. Revenue was reported as $13.01 billion.
Kellogg expects full-year earnings in the range of $3.91 to $3.97 per share.
Kellogg shares have fallen slightly since the beginning of the year, while the Standard & Poor's 500 index has climbed 2.5 percent. The stock has risen 3 percent in the last 12 months.