Kellogg Co (K) CEO Steven Cahillane on Q2 2022 Results - Earnings Call Transcript

Kellogg Co (NYSE:K) Q2 2022 Earnings Conference Call August 4, 2022 9:30 AM ET

Company Participants

John Renwick - VP, IR & Corporate Planning

Steven Cahillane - Chairman, CEO & President

Amit Banati - SVP, CFO & Principal Financial Officer

Conference Call Participants

Andrew Lazar - Barclays Bank

Sunil Modi - RBC Capital Markets

Kenneth Goldman - JPMorgan Chase & Co.

Pamela Kaufman - Morgan Stanley

Cody Ross - UBS

Michael Lavery - Piper Sandler & Co.

Robert Moskow - Crédit Suisse

Jason English - Goldman Sachs Group

Christopher Growe - Stifel, Nicolaus & Company

Stephen Powers - Deutsche Bank

Operator

Good morning. Welcome to the Kellogg Company's Second Quarter 2022 Earnings Call. [Operator Instructions]. Please note, this event is being recorded. At this time, I will turn the call over to John Renwick, Vice President of Investor Relations and Corporate Planning for Kellogg Company. Mr. Renwick, you may begin your conference call.

John Renwick

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

Slide 3 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 during the current COVID-19 pandemic, volatile input costs and supply disruptions when the length and severity of these issues and resultant economic and business impacts 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 obviously pleased to be able to report yet another quarter of strong performance, one that puts us in a position to raise our outlook for the full year. Before we get into the specific results and guidance, let me emphasize how we are navigating so well through what is undoubtedly a challenging business environment.