Kellogg Company (K) Q3 2022 Earnings Call Transcript

Kellogg Company (NYSE:K) Q3 2022 Earnings Conference Call November 3, 2022 9:30 AM ET

Company Representatives

Steve Cahillane - Chairman, Chief Executive Officer

Amit Banati - Chief Financial Officer

John Renwick - Vice President of Investor Relations and Corporate Planning

Conference Call Participants

Cody Ross - UBS

David Palmer - Evercore ISI

Andrew Lazar - Barclays

Pamela Kaufman - Morgan Stanley

Chris Growe - Stifel

Robert Moskow - Credit Suisse

Ken Goldman - J.P. Morgan

Michael Lavery - Piper Sandler

Nik Modi - RBC Capital

Operator

Good morning! Welcome to the Kellogg Company's Third Quarter 2022 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers remarks there will be a question-and-answer session with publishing analysts.

At this time I will turn the call over to John Renwick, Vice President of Investor Relations and Corporate Planning for Kellogg Company.

John Renwick

Thank you, operator. Good morning and thank you for joining us today for a review of our third quarter results and an update regarding our outlook for 2022. I'm joined this morning by Steve Cahillane, our Chairman and CEO; and Amit Banati, our Chief Financial Officer.

Slide number three shows our forward-looking statements disclaimer. As you are aware, certain statements made today such as projections for Kellogg Company's future performance, are forward-looking statements. Actual results could be materially different from those projected. For further information concerning factors that could cause these results to differ, please refer to the third slide of this presentation, as well as to our public SEC filings.

This is a particular note amidst the current operating environment, which includes unusually high input cost inflation, global supply disruptions and uncertain global macroeconomic conditions, all of whose direction, length and severity are so difficult to predict.

A recording of today's webcast and supporting documents will be archived for at least 90 days on the Investor page of kelloggcompany.com.

As always, when referring to our results and outlook, unless otherwise noted, we will be referring to them on an organic basis for net sales and on a currency-neutral adjusted basis for operating profit and earnings per share.

And now, I'll turn it over to Steve.

Steven Cahillane

Thanks John and good morning everyone. We are delighted to be able to report yet another quarter of momentum, progress, better than expected results and an improved full year outlook. Our organization once again exhibited grit and creativity in navigating and executing through a global operating environment that showed little to no signs of easing.