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General Mills (GIS) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended November 2023, General Mills (GIS - Free Report) reported revenue of $5.14 billion, down 1.6% over the same period last year. EPS came in at $1.25, compared to $1.10 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $5.34 billion, representing a surprise of -3.71%. The company delivered an EPS surprise of +8.70%, with the consensus EPS estimate being $1.15.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: $582 million versus $601.85 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.2% change.
Net Sales- International: $683.10 million versus the four-analyst average estimate of $736.29 million. The reported number represents a year-over-year change of +1.7%.
Net Sales- Pet: $569.30 million versus $611.54 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -4% change.
Net Sales- North America Retail: $3.31 billion compared to the $3.40 billion average estimate based on four analysts. The reported number represents a change of -2% year over year.
Operating Profit- North America Retail: $859.90 million versus the four-analyst average estimate of $837.37 million.
Operating Profit- North America Foodservice: $95.50 million compared to the $84.47 million average estimate based on four analysts.
Operating Profit- Pet: $102.50 million compared to the $95.69 million average estimate based on four analysts.
Operating Profit- International: $34.60 million compared to the $37.30 million average estimate based on four analysts.
Operating Profit- Unallocated corporate: $157.10 million versus -$133.90 million estimated by two analysts on average.
Shares of General Mills have returned +3.2% over the past month versus the Zacks S&P 500 composite's +5.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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General Mills (GIS) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended November 2023, General Mills (GIS - Free Report) reported revenue of $5.14 billion, down 1.6% over the same period last year. EPS came in at $1.25, compared to $1.10 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $5.34 billion, representing a surprise of -3.71%. The company delivered an EPS surprise of +8.70%, with the consensus EPS estimate being $1.15.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: $582 million versus $601.85 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.2% change.
- Net Sales- International: $683.10 million versus the four-analyst average estimate of $736.29 million. The reported number represents a year-over-year change of +1.7%.
- Net Sales- Pet: $569.30 million versus $611.54 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -4% change.
- Net Sales- North America Retail: $3.31 billion compared to the $3.40 billion average estimate based on four analysts. The reported number represents a change of -2% year over year.
- Operating Profit- North America Retail: $859.90 million versus the four-analyst average estimate of $837.37 million.
- Operating Profit- North America Foodservice: $95.50 million compared to the $84.47 million average estimate based on four analysts.
- Operating Profit- Pet: $102.50 million compared to the $95.69 million average estimate based on four analysts.
- Operating Profit- International: $34.60 million compared to the $37.30 million average estimate based on four analysts.
- Operating Profit- Unallocated corporate: $157.10 million versus -$133.90 million estimated by two analysts on average.
View all Key Company Metrics for General Mills here>>>Shares of General Mills have returned +3.2% over the past month versus the Zacks S&P 500 composite's +5.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.