General Mills, Inc. (NYSE:GIS) stock was up on Wednesday following a positive earnings report for its fiscal fourth quarter of 2017.
During its fiscal fourth quarter of 2017, General Mills, Inc. reported earnings per share of 73 cents. This is an increase over its earnings per share of 66 cents from the same time last year. It also came in above Wall Street’s earnings per share of 71 cents for the quarter.
General Mills, Inc. reported revenue of $3.81 billion for its fiscal fourth quarter of 2017. This is a decrease from its revenue of $3.93 billion that was reported in the fiscal fourth quarter of 2016. However, it still came in above analysts’ revenue estimate of $3.75 billion for the fiscal fourth quarter of the year.
Operating profit reported by General Mills, Inc. in its fiscal fourth quarter of 2017 was $609.20 million. This is up from its operating profit of $532.10 million that was reported during the same period of the year prior.
Net earnings attributable to General Mills, Inc. for the fiscal fourth quarter of 2017 was $408.90 million. Net earnings attributable to GIS during its fiscal fourth quarter of the previous year was $379.60 million.
General Mills, Inc. also announced its guidance for fiscal 2018 in its recent earnings report. The company is expecting earnings per share for fiscal 2018 to be up by 1% to 2% from fiscal 2017. GIS also says that it expects organic net sales for fiscal 2017 to decline by 1% to 2% when compared to the prior year.
GIS stock was up 2% as of Wednesday morning, but is down 8% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
