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General Mills (GIS) Misses Q2 Earnings; Keeps 2017 View
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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 been stable over the last 30 days. However, GIS has delivered positive earnings surprises in the past four quarters making for an average four quarter earnings surprise of 4.37%.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: GIS missed on earnings. Our consensus earnings estimate called for EPS of 88 cents per share, and the company reported adjusted EPS of 85 cents. Investors should note that these figures take out stock option expenses.
Revenues: GIS reported revenues of $4.1 billion, slightly lagging our consensus estimate of $4.2 billion.
Key Stats to Note: Organically, sales were down 4%.
Share Price Impact: Shares declined almost 5% in pre-market trading at the time of writing.
Check back for our full write up on this GIS earnings report later!
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General Mills (GIS) Misses Q2 Earnings; Keeps 2017 View
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 been stable over the last 30 days. However, GIS has delivered positive earnings surprises in the past four quarters making for an average four quarter earnings surprise of 4.37%.
Currently, GIS has a Zacks Rank #3 (Hold), 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 (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: GIS missed on earnings. Our consensus earnings estimate called for EPS of 88 cents per share, and the company reported adjusted EPS of 85 cents. Investors should note that these figures take out stock option expenses.
Revenues: GIS reported revenues of $4.1 billion, slightly lagging our consensus estimate of $4.2 billion.
Key Stats to Note: Organically, sales were down 4%.
Share Price Impact: Shares declined almost 5% in pre-market trading at the time of writing.
GENL MILLS Price and EPS Surprise
GENL MILLS Price and EPS Surprise | GENL MILLS Quote
Check back for our full write up on this GIS earnings report later!
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>