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 GIS has witnessed downward movement over the last 7 days. However, GIS has delivered positive earnings surprises in the past four quarters making for an average four quarter earnings surprise of 7.33%.
Currently, GIS has a Zacks Rank #4 (Sell), 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 stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Beat: GIS beat on earnings. Our consensus earnings estimate called for EPS of 76 cents per share, and the company reported adjusted EPS of 78 cents. Investors should note that these figures take out stock option expenses.
Revenues In-Line: GIS reported revenues of $3.9 billion, in line with our consensus estimate.
Key Stats to Note: Organically, sales were down 4%.
Share Price Impact: Shares rose almost 1.24% in pre-market trading at the time of writing.
Check back later for our full write up on this GIS earnings report later!
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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 GIS has witnessed downward movement over the last 7 days. However, GIS has delivered positive earnings surprises in the past four quarters making for an average four quarter earnings surprise of 7.33%.
Currently, GIS has a Zacks Rank #4 (Sell), 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 stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Beat: GIS beat on earnings. Our consensus earnings estimate called for EPS of 76 cents per share, and the company reported adjusted EPS of 78 cents. Investors should note that these figures take out stock option expenses.
Revenues In-Line: GIS reported revenues of $3.9 billion, in line with our consensus estimate.
Key Stats to Note: Organically, sales were down 4%.
Share Price Impact: Shares rose almost 1.24% in pre-market trading at the time of writing.
Check back later for our full write up on this GIS earnings report later!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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