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General Mills (GIS) Q3 Earnings & Revenue Meet Estimates
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General Mills, Inc. (GIS - Free Report) is 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 the current fiscal year for GIS has been trending upward over the last 30 days. However, GIS has delivered positive earnings surprises in two of the past four quarters making for an average four quarter negative earnings surprise of 0.89%.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: GIS met expectations. The Zacks Consensus Estimate for EPS was 79 cents per share, in line with the company’s adjusted figure.
Revenues: GIS reported net sales of $3.882 billion, almost in line with the consensus estimate of $3.886 billion.
Key Stats to Note: Organically, sales grew 1%, same as the preceding quarter. However, the company has adjusted its full year earnings guidance to reflect higher supply chain costs.
Share Price Impact: Shares tanked 5.8% in pre-market trading at the time of writing.
Check back for our full write up on this GIS earnings report later!
General Mills, Inc. Price, Consensus and EPS Surprise
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General Mills (GIS) Q3 Earnings & Revenue Meet Estimates
General Mills, Inc. (GIS - Free Report) is 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 the current fiscal year for GIS has been trending upward over the last 30 days. However, GIS has delivered positive earnings surprises in two of the past four quarters making for an average four quarter negative earnings surprise of 0.89%.
Currently, GIS has a Zacks Rank #2 (Buy), but that could definitely change following General Mills’ earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: GIS met expectations. The Zacks Consensus Estimate for EPS was 79 cents per share, in line with the company’s adjusted figure.
Revenues: GIS reported net sales of $3.882 billion, almost in line with the consensus estimate of $3.886 billion.
Key Stats to Note: Organically, sales grew 1%, same as the preceding quarter. However, the company has adjusted its full year earnings guidance to reflect higher supply chain costs.
Share Price Impact: Shares tanked 5.8% in pre-market trading at the time of writing.
Check back for our full write up on this GIS earnings report later!
General Mills, Inc. Price, Consensus and EPS Surprise
General Mills, Inc. Price, Consensus and EPS Surprise | General Mills, Inc. Quote
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>