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General Mills (GIS) Q1 Earnings & Revenues Miss Estimates
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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 the current quarter for GIS has remained stable over the last 60 days. However, GIS has delivered positive earnings surprises in three of the past four quarters making for an average four quarter positive earnings surprise of 0.86%.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: GIS missed expectations. Our consensus earnings estimate called for EPS of 77 cents per share, and the company reported adjusted EPS of 71 cents.
Revenues: GIS reported net sales of $3.77 billion, missing our consensus estimate of $3.79 billion.
Key Stats to Note: Organically, sales were down 4%.
Share Price Impact: Shares declined 4.3% in pre-market trading at the time of writing.
Check back for our full write up on this GIS earnings report later!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
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General Mills (GIS) Q1 Earnings & Revenues Miss Estimates
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 the current quarter for GIS has remained stable over the last 60 days. However, GIS has delivered positive earnings surprises in three of the past four quarters making for an average four quarter positive earnings surprise of 0.86%.
General Mills, Inc. Price and EPS Surprise
General Mills, Inc. Price and EPS Surprise | General Mills, Inc. Quote
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 expectations. Our consensus earnings estimate called for EPS of 77 cents per share, and the company reported adjusted EPS of 71 cents.
Revenues: GIS reported net sales of $3.77 billion, missing our consensus estimate of $3.79 billion.
Key Stats to Note: Organically, sales were down 4%.
Share Price Impact: Shares declined 4.3% in pre-market trading at the time of writing.
Check back for our full write up on this GIS earnings report later!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>