General Mills Beats On Q2 Earnings, Stock Slumps On Lackluster Outlook [Yahoo! Finance]
General Mills, Inc. (GIS)
Last general mills, inc. earnings: 3/18 07:00 am
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Source: Yahoo! Finance
General Mills, Inc. (NYSE: GIS ) shares are trading lower in the premarket session on Wednesday. The company reported second-quarter adjusted earnings per share of $1.40, beating the street view of $1.22 Quarterly sales of $5.24 billion beat the analyst consensus estimate of $5.14 billion. Quarterly sales were up 2%, driven by higher pound volume, while organic net sales increased 1%. Gross margin was up 250 basis points to 36.9%, driven primarily by Holistic Margin Management cost savings and favorable mark-to-market effects, partially offset by input cost inflation. Adjusted gross margin was up 130 basis points to 36.3%. Operating profit of $1.1 billion was up 33%, driven primarily by higher gross profit dollars and a goodwill impairment charge a year ago. Also Read: What's Going On With NIO Stock Today? The acquisition of the Edgard & Cooper pet food business in the fourth quarter of fiscal 2024 impacted the comparability of second-quarter and year-to-date Internationa
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News
- General Mills, Inc. (NYSE: GIS) had its price target lowered by analysts at Barclays PLC from $74.00 to $68.00. They now have an "equal weight" rating on the stock.MarketBeat
- General Mills, Inc. (NYSE: GIS) had its price target lowered by analysts at Citigroup Inc. from $71.00 to $67.00. They now have a "neutral" rating on the stock.MarketBeat
- General Mills, Inc. (NYSE: GIS) had its price target lowered by analysts at Stifel Nicolaus from $82.00 to $78.00. They now have a "buy" rating on the stock.MarketBeat
- General Mills, Inc. (NYSE: GIS) had its "sector perform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $70.00 price target on the stock.MarketBeat
- General Mills, Inc. (NYSE: GIS) had its price target lowered by analysts at TD Cowen from $75.00 to $64.00. They now have a "hold" rating on the stock.MarketBeat
GIS
Earnings
- 12/18/24 - Beat
GIS
Sec Filings
- 12/20/24 - Form 144
- 12/18/24 - Form 10-Q
- 12/18/24 - Form 8-K
- GIS's page on the SEC website