Kellogg Company (NYSE:K) reported Q2 adjusted EPS of $1.02, in line with the analyst consensus on Capital IQ. Sales were $3.68 billion, vs. expectations of $3.70 billion. The company lowered its guidance for the full-year of 2014.

Internal net sales are now expected to decline by between one and two percent. Underlying internal operating profit growth is expected to decline by between one and three percent. Currency-neutral comparable earnings per share are expected to be in a range between a decline of one percent and an increase of one percent. Integration costs associated with the acquisition of the Pringles business are still expected to be in a range between $0.07 and $0.09 per share. Costs associated with Project K are still expected to be in a range between $0.60 and $0.65 per share.

As a result, earnings excluding the impact of mark-to-market accounting, integration costs, Project K and other items impacting comparability are anticipated to be between $3.81 and $3.89 per share. This year’s 53rd week is now expected to add approximately $0.07 per share to earnings and currency translation is now expected to add $0.03 per share. As a result, the company expects an earnings range including the impact of the 53rd week and currency translation of between $3.91 and $3.99 per share. The Street consensus is $3.99 per share, according to Capital IQ.