Kellogg (NYSE: K) is expected to report Q2 earnings on Aug. 1. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Kellogg's revenues will increase 9.8% and EPS will grow 5.4%.

The average estimate for revenue is $3.81 billion. On the bottom line, the average EPS estimate is $0.98.

Revenue details
Last quarter, Kellogg notched revenue of $3.86 billion. GAAP reported sales were 12% higher than the prior-year quarter's $3.44 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $0.99. GAAP EPS of $0.85 for Q1 were 13% lower than the prior-year quarter's $0.98 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 36.2%, 310 basis points worse than the prior-year quarter. Operating margin was 13.5%, 180 basis points worse than the prior-year quarter. Net margin was 8.1%, 210 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $15.14 billion. The average EPS estimate is $3.84.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 871 members out of 957 rating the stock outperform, and 86 members rating it underperform. Among 293 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 275 give Kellogg a green thumbs-up, and 18 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Kellogg is hold, with an average price target of $60.65.

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