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General Mills (GIS) Beats Q4 Earnings; Misses Sales
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General Mills, Inc. (GIS - Free Report) is easily a leading manufacturer and marketer of branded consumer foods sold through retail stores. The company’s core brands like Big G cereals, Betty Crocker and Hamburger Helper dinner mixes, Pillsbury refrigerated dough products, Progresso soups and Yoplait yogurt enjoy leading positions in attractive food categories.
However, much like the rest of the food industry, GIS has been under pressure lately as its U.S. sales and profits have been hurt by changing consumer food preferences. To cater to the evolving consumer tastes, General Mills is investing in consumer-focused innovation and marketing and accelerating its natural and organic product portfolio to improve sales.
Investors should note that the consensus estimate for GIS has hardly witnessed any significant movement over the last 60 days. Moreover, GIS has delivered positive earnings surprises in three of the past four quarters making for an average four quarter earnings surprise of 6.24%.
Currently, GIS has a Zacks Rank #3 (Hold), but that could definitely change following General Mills’ earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: GIS beat on earnings. Our consensus earnings estimate called for EPS of $0.60/share, and the company reported EPS of $0.66. Investors should note that these figures take out stock option expenses.
Revenues: GIS reported revenues of $3.93 billion. This missed our consensus estimate of 3.84 billion.
Key Stats to Note: In constant currency terms, sales declined 8%. Organically, excluding currency, one less week and acquisitions/divestures, sales rose 1%.
Share Price Impact: Shares rose almost 2% in pre-market trading.
Check back later for our full write up on this GIS earnings report later!
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General Mills (GIS) Beats Q4 Earnings; Misses Sales
General Mills, Inc. (GIS - Free Report) is easily a leading manufacturer and marketer of branded consumer foods sold through retail stores. The company’s core brands like Big G cereals, Betty Crocker and Hamburger Helper dinner mixes, Pillsbury refrigerated dough products, Progresso soups and Yoplait yogurt enjoy leading positions in attractive food categories.
However, much like the rest of the food industry, GIS has been under pressure lately as its U.S. sales and profits have been hurt by changing consumer food preferences. To cater to the evolving consumer tastes, General Mills is investing in consumer-focused innovation and marketing and accelerating its natural and organic product portfolio to improve sales.
Investors should note that the consensus estimate for GIS has hardly witnessed any significant movement over the last 60 days. Moreover, GIS has delivered positive earnings surprises in three of the past four quarters making for an average four quarter earnings surprise of 6.24%.
Currently, GIS has a Zacks Rank #3 (Hold), but that could definitely change following General Mills’ earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
GENL MILLS Price and EPS Surprise
GENL MILLS Price and EPS Surprise | GENL MILLS Quote
Earnings: GIS beat on earnings. Our consensus earnings estimate called for EPS of $0.60/share, and the company reported EPS of $0.66. Investors should note that these figures take out stock option expenses.
Revenues: GIS reported revenues of $3.93 billion. This missed our consensus estimate of 3.84 billion.
Key Stats to Note: In constant currency terms, sales declined 8%. Organically, excluding currency, one less week and acquisitions/divestures, sales rose 1%.
Share Price Impact: Shares rose almost 2% in pre-market trading.
Check back later for our full write up on this GIS earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>