K - Kellogg trades higher after organic sales dazzle in Q2

Kellogg Company ( NYSE: K ) jumped in early trading on Thursday after sailing past consensus revenue, EPS, and comparable sales marks with its Q2 earnings report .

Oragnic sales rose 12% with price/mix up 13.7% to help offset a 1.5% decline in volume. Kellogg ( K ) benefited from F/X swings to add 3.5 percentage points to the organic sales tally. The comparison in North America this year also lapped the fire and strike from a year ago. Results in Latin America and AMEA also topped last year's marks.

Notably, overall currency-neutral operating profit was up 10% in Q2 and stayed in an upward trajectory despite the costs pressures in the industry.

CEO update: "We sustained notably strong growth momentum insnacks and emerging markets, while acceleratingthe recovery of supply and category share in our NorthAmericacereal business, all while leveraging productivity initiatives and revenuegrowthmanagement to mitigate the impact of decades-high inputcost inflation."

Looking ahead, Kellogg ( K ) sees organic sales growth of +7% to +8% for the full year vs. +4% prior view. EPS of $4.24 is expected vs. $4.11 consensus. Management pointed to expected strength with North America cereal sales in particular.

Shares of Kellogg ( K ) rose 1.85% following the earnings topper.

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