Kellogg Company (K) reported first-quarter comparable earnings per share of $1.06 compared to $0.96, prior year. Non-GAAP, comparable earnings per share were up more than 10% from the year-earlier quarter, because of productivity savings and a planned discrete tax benefit, which more than offset the negative impact of currency translation. Comparable net income was $376 million, an increase of 10.9% from prior year. Non-GAAP, currency-neutral comparable earnings per share increased by more than 13% year-on-year. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.99 for the quarter. Analysts' estimates typically exclude special items.
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