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General Mills (GIS) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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General Mills (GIS - Free Report) reported $5.1 billion in revenue for the quarter ended February 2024, representing a year-over-year decline of 0.5%. EPS of $1.17 for the same period compares to $0.97 a year ago.
The reported revenue represents a surprise of +2.93% over the Zacks Consensus Estimate of $4.95 billion. With the consensus EPS estimate being $1.04, the EPS surprise was +12.50%.
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: $551.70 million versus $557.56 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +0.7% change.
Net Sales- International: $680.10 million versus $719.85 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -2.9% change.
Net Sales- Pet: $624.50 million compared to the $587.39 million average estimate based on five analysts. The reported number represents a change of -3.3% year over year.
Net Sales- North America Retail: $3.24 billion versus the five-analyst average estimate of $3.13 billion. The reported number represents a year-over-year change of +0.3%.
Operating Profit- North America Retail: $752.20 million compared to the $764.72 million average estimate based on five analysts.
Operating Profit- North America Foodservice: $81.70 million versus $82.77 million estimated by five analysts on average.
Operating Profit- Pet: $128.30 million compared to the $93.29 million average estimate based on five analysts.
Operating Profit- International: $18.20 million versus $47.09 million estimated by five analysts on average.
Operating Profit- Unallocated corporate: $63.90 million versus -$143.88 million estimated by three analysts on average.
Shares of General Mills have returned +4.3% over the past month versus the Zacks S&P 500 composite's +3.6% 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) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
General Mills (GIS - Free Report) reported $5.1 billion in revenue for the quarter ended February 2024, representing a year-over-year decline of 0.5%. EPS of $1.17 for the same period compares to $0.97 a year ago.
The reported revenue represents a surprise of +2.93% over the Zacks Consensus Estimate of $4.95 billion. With the consensus EPS estimate being $1.04, the EPS surprise was +12.50%.
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: $551.70 million versus $557.56 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +0.7% change.
- Net Sales- International: $680.10 million versus $719.85 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -2.9% change.
- Net Sales- Pet: $624.50 million compared to the $587.39 million average estimate based on five analysts. The reported number represents a change of -3.3% year over year.
- Net Sales- North America Retail: $3.24 billion versus the five-analyst average estimate of $3.13 billion. The reported number represents a year-over-year change of +0.3%.
- Operating Profit- North America Retail: $752.20 million compared to the $764.72 million average estimate based on five analysts.
- Operating Profit- North America Foodservice: $81.70 million versus $82.77 million estimated by five analysts on average.
- Operating Profit- Pet: $128.30 million compared to the $93.29 million average estimate based on five analysts.
- Operating Profit- International: $18.20 million versus $47.09 million estimated by five analysts on average.
- Operating Profit- Unallocated corporate: $63.90 million versus -$143.88 million estimated by three analysts on average.
View all Key Company Metrics for General Mills here>>>Shares of General Mills have returned +4.3% over the past month versus the Zacks S&P 500 composite's +3.6% 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.