General Mills, Inc. GIS 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 witnessed downward movement over the last 7 days. However, GIS has delivered positive earnings surprises in the past four quarters making for an average four quarter earnings surprise of 7.33%.
Currently, GIS has a Zacks Rank #4 (Sell), 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 stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Beat: GIS beat on earnings. Our consensus earnings estimate called for EPS of 76 cents per share, and the company reported adjusted EPS of 78 cents. Investors should note that these figures take out stock option expenses.
Revenues In-Line: GIS reported revenues of $3.9 billion, in line with our consensus estimate.
Key Stats to Note: Organically, sales were down 4%.
Share Price Impact: Shares rose almost 1.24% in pre-market trading at the time of writing.
Check back later for our full write up on this GIS earnings report later!
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