Kellogg Company (K – Analyst Report) has a balanced portfolio of cereal and snack products. Popular brands include Kellogg's, Keebler, Pop-Tarts, Eggo, Cheez-It, Ready Crust and Kashi.

Kellogg is known for its solid brand positioning, geographic diversity and significant investments in innovation.

Kellogg was struggling to grow sales over the past two years mainly due to a weak performance of its developed markets cereals and U.S. snacks businesses due to lower demand.

However, savings from its restructuring program – Project K are being invested in brand-building initiatives, in-store execution and innovation to stabilize sales. These led to improved sales trends in the first half of 2015.

Investors should also note that there has not been any significant earnings estimate revisions for K over the past 60 days. However, K has an average history in earnings season delivering positive earnings in two out of the past four quarters, bringing the average to a positive earnings surprise of 0.27%

Currently, K has a Zacks Rank #3 (Hold), but that could definitely change following Kellogg's earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: K beat on earnings. Our consensus earnings estimate called for EPS of 91 cents/share, and the company reported adjusted EPS of 92 cents instead. Investors should note that these figures take out stock option expenses.

Revenues: K reported revenues of $3.50 billion. This marginally beat our consensus estimate of $3.47 billion.

Key Stats to Note: Organic revenues (excluding the impact of acquisitions, dispositions and foreign exchange) improved 0.1%, better than declines seen in the previous two quarters

Stock Price: Shares rose in pre-market trading.

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