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General Mills (GIS) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended August 2023, General Mills (GIS - Free Report) reported revenue of $4.9 billion, up 4% over the same period last year. EPS came in at $1.09, compared to $1.11 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $4.86 billion, representing a surprise of +0.82%. The company delivered an EPS surprise of +0.93%, with the consensus EPS estimate being $1.08.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how General Mills performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- North America Foodservice: $536 million compared to the $524.53 million average estimate based on five analysts. The reported number represents a change of +8% year over year.
Net Sales- International: $715.80 million versus $720.26 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +9.7% change.
Net Sales- Pet: $579.90 million versus $593.55 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
Net Sales- North America Retail: $3.07 billion compared to the $3.05 billion average estimate based on five analysts. The reported number represents a change of +2.8% year over year.
Operating Profit- North America Retail: $798.20 million compared to the $774.58 million average estimate based on five analysts.
Operating Profit- North America Foodservice: $59.10 million compared to the $67.20 million average estimate based on five analysts.
Operating Profit- Pet: $111.20 million compared to the $114.67 million average estimate based on five analysts.
Operating Profit- International: $50 million compared to the $49.51 million average estimate based on five analysts.
Operating Profit- Unallocated corporate: $87.30 million versus the three-analyst average estimate of -$143.90 million.
Shares of General Mills have returned -3.7% over the past month versus the Zacks S&P 500 composite's +1.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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General Mills (GIS) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended August 2023, General Mills (GIS - Free Report) reported revenue of $4.9 billion, up 4% over the same period last year. EPS came in at $1.09, compared to $1.11 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $4.86 billion, representing a surprise of +0.82%. The company delivered an EPS surprise of +0.93%, with the consensus EPS estimate being $1.08.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how General Mills performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- North America Foodservice: $536 million compared to the $524.53 million average estimate based on five analysts. The reported number represents a change of +8% year over year.
- Net Sales- International: $715.80 million versus $720.26 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +9.7% change.
- Net Sales- Pet: $579.90 million versus $593.55 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
- Net Sales- North America Retail: $3.07 billion compared to the $3.05 billion average estimate based on five analysts. The reported number represents a change of +2.8% year over year.
- Operating Profit- North America Retail: $798.20 million compared to the $774.58 million average estimate based on five analysts.
- Operating Profit- North America Foodservice: $59.10 million compared to the $67.20 million average estimate based on five analysts.
- Operating Profit- Pet: $111.20 million compared to the $114.67 million average estimate based on five analysts.
- Operating Profit- International: $50 million compared to the $49.51 million average estimate based on five analysts.
- Operating Profit- Unallocated corporate: $87.30 million versus the three-analyst average estimate of -$143.90 million.
View all Key Company Metrics for General Mills here>>>Shares of General Mills have returned -3.7% over the past month versus the Zacks S&P 500 composite's +1.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.