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General Mills (GIS) Q2 Earnings Coming Up: Things to Note
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General Mills, Inc. (GIS - Free Report) is likely to register top-and bottom-line growth when it reports second-quarter fiscal 2023 earnings on Dec 20, 2022. The Zacks Consensus Estimate for quarterly revenues is pegged at $5.15 billion, suggesting an increase of 2.5% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for quarterly earnings has moved up by a penny in the last seven days to $1.06 per share, indicating a 7.1% jump from the figure reported in the prior-year quarter.
We expect fiscal second-quarter net revenues to be up 1.6% year over year to $5,106.7 million and the bottom line to improve 4.7% to $1.04 a share.
The manufacturer and marketer of branded consumer food products has a trailing four-quarter earnings surprise of 6.1%, on average. In the last reported quarter, General Mills delivered an earnings surprise of 11%.
General Mills has been benefiting from its Accelerate strategy, which aids in making the choices of how to win and where to play to boost profitability and enhance shareholder returns. Under how to win, General Mills is focused on four pillars — brand building, undertaking innovations, unleashing scale and maintaining business strength. Where to play principle is outlined to enhance its capabilities to generate profitability through geographic and product prioritization and portfolio restructuring.
Strength in the Pet segment has been an important growth driver for General Mills. A higher pet population and more humanization and premiumization of pet food since the pandemic have been acting as tailwinds for General Mills’ pet food category. The persistence of these upsides is likely to have contributed to GIS’s second-quarter fiscal 2023 performance.
However, the company is grappling with cost inflation. In this regard, elevated labor, energy and transportation costs are headwinds. The company is also battling supply-chain bottlenecks. General Mills’ international presence exposes it to risks of unfavorable currency rates. We believe that the persistence of these factors might be a concern for the quarter to be reported.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for General Mills this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
General Mills currently carries a Zacks Rank #3 and has an Earnings ESP of +0.11%.
Stocks With Favorable Combination
Here are three companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat:
Flowers Foods, Inc. (FLO - Free Report) currently has an Earnings ESP of +0.36% and a Zacks Rank of 3. FLO is likely to register top-and bottom-line growth when it reports fourth-quarter fiscal 2022 earnings. The Zacks Consensus Estimate for the quarterly earnings per share (EPS) of 23 cents suggests an increase of 15% from the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Flowers Foods’ quarterly revenues is pegged at $1.1 billion, indicating a rise of 11.7% from the figure reported in the prior-year quarter. FLO delivered an earnings beat of 7.2%, on average, in the trailing four quarters.
The Procter & Gamble Company (PG - Free Report) currently has an Earnings ESP of +0.25% and a Zacks Rank of 3. PG is likely to register top-and bottom-line decline when it reports second-quarter fiscal 2023 earnings. The Zacks Consensus Estimate for the quarterly EPS of $1.57 suggests a decrease of 5.4% from the year-ago quarter.
The Zacks Consensus Estimate for Procter & Gamble’s quarterly revenues is pegged at $20.5 billion, indicating a decline of almost 2% from the figure reported in the prior-year quarter. PG delivered an earnings beat of 1.1%, on average, in the trailing four quarters.
The Hain Celestial Group, Inc. (HAIN - Free Report) currently has an Earnings ESP of +1.50% and a Zacks Rank of 3. Hain Celestial is likely to register top-and bottom-line decline when it reports second-quarter fiscal 2023 earnings. The Zacks Consensus Estimate for the quarterly EPS of 14 cents suggests a decrease of 61.1% from the year-ago quarter.
The Zacks Consensus Estimate for Hain Celestial’s quarterly revenues is pegged at $455.6 million, indicating a decline of 4.5% from the figure reported in the prior-year quarter. HAIN delivered a negative earnings beat of 22.4%, on average, in the trailing four quarters.
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General Mills (GIS) Q2 Earnings Coming Up: Things to Note
General Mills, Inc. (GIS - Free Report) is likely to register top-and bottom-line growth when it reports second-quarter fiscal 2023 earnings on Dec 20, 2022. The Zacks Consensus Estimate for quarterly revenues is pegged at $5.15 billion, suggesting an increase of 2.5% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for quarterly earnings has moved up by a penny in the last seven days to $1.06 per share, indicating a 7.1% jump from the figure reported in the prior-year quarter.
We expect fiscal second-quarter net revenues to be up 1.6% year over year to $5,106.7 million and the bottom line to improve 4.7% to $1.04 a share.
The manufacturer and marketer of branded consumer food products has a trailing four-quarter earnings surprise of 6.1%, on average. In the last reported quarter, General Mills delivered an earnings surprise of 11%.
General Mills, Inc. Price and EPS Surprise
General Mills, Inc. price-eps-surprise | General Mills, Inc. Quote
Things To Note
General Mills has been benefiting from its Accelerate strategy, which aids in making the choices of how to win and where to play to boost profitability and enhance shareholder returns. Under how to win, General Mills is focused on four pillars — brand building, undertaking innovations, unleashing scale and maintaining business strength. Where to play principle is outlined to enhance its capabilities to generate profitability through geographic and product prioritization and portfolio restructuring.
Strength in the Pet segment has been an important growth driver for General Mills. A higher pet population and more humanization and premiumization of pet food since the pandemic have been acting as tailwinds for General Mills’ pet food category. The persistence of these upsides is likely to have contributed to GIS’s second-quarter fiscal 2023 performance.
However, the company is grappling with cost inflation. In this regard, elevated labor, energy and transportation costs are headwinds. The company is also battling supply-chain bottlenecks. General Mills’ international presence exposes it to risks of unfavorable currency rates. We believe that the persistence of these factors might be a concern for the quarter to be reported.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for General Mills this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
General Mills currently carries a Zacks Rank #3 and has an Earnings ESP of +0.11%.
Stocks With Favorable Combination
Here are three companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat:
Flowers Foods, Inc. (FLO - Free Report) currently has an Earnings ESP of +0.36% and a Zacks Rank of 3. FLO is likely to register top-and bottom-line growth when it reports fourth-quarter fiscal 2022 earnings. The Zacks Consensus Estimate for the quarterly earnings per share (EPS) of 23 cents suggests an increase of 15% from the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Flowers Foods’ quarterly revenues is pegged at $1.1 billion, indicating a rise of 11.7% from the figure reported in the prior-year quarter. FLO delivered an earnings beat of 7.2%, on average, in the trailing four quarters.
The Procter & Gamble Company (PG - Free Report) currently has an Earnings ESP of +0.25% and a Zacks Rank of 3. PG is likely to register top-and bottom-line decline when it reports second-quarter fiscal 2023 earnings. The Zacks Consensus Estimate for the quarterly EPS of $1.57 suggests a decrease of 5.4% from the year-ago quarter.
The Zacks Consensus Estimate for Procter & Gamble’s quarterly revenues is pegged at $20.5 billion, indicating a decline of almost 2% from the figure reported in the prior-year quarter. PG delivered an earnings beat of 1.1%, on average, in the trailing four quarters.
The Hain Celestial Group, Inc. (HAIN - Free Report) currently has an Earnings ESP of +1.50% and a Zacks Rank of 3. Hain Celestial is likely to register top-and bottom-line decline when it reports second-quarter fiscal 2023 earnings. The Zacks Consensus Estimate for the quarterly EPS of 14 cents suggests a decrease of 61.1% from the year-ago quarter.
The Zacks Consensus Estimate for Hain Celestial’s quarterly revenues is pegged at $455.6 million, indicating a decline of 4.5% from the figure reported in the prior-year quarter. HAIN delivered a negative earnings beat of 22.4%, on average, in the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.