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General Mills Earnings: 13 Things for Investors to Know About Q1

GIS missed revenue estimates for Q1

By William White, InvestorPlace Writer


The General Mills earnings report for its fiscal first quarter of 2019 is out.

Here are a few things to know about General Mills’ (NYSE:GIS) earnings report for its fiscal first quarter of the year.

  • The most recent General Mills earnings report starts with earnings per share of 71 cents.
  • This matches the company’s earnings per share from the same period of the year prior.
  • It also comes in above Wall Street’s earnings per share estimate of 64 cents for the quarter.
  • Net income reported in the General Mills earnings report came in at $392.30 million.
  • This is down from its net income of $404.70 million reported in its fiscal first quarter of 2018.
  • General Mills earnings includes operating income of $601.50 million for its fiscal first quarter of 2019.
  • In comparison, the company’s operating income reported during the same time last year was $605.30 million.
  • The General Mills earnings report for its fiscal first quarter of the year also includes revenue of $4.09 billion.
  • The company’s revenue from its fiscal first quarter of the previous year was $3.77 billion.
  • This isn’t good news for GIS stock as analysts’ were expecting revenue of $4.12 billion for the period.
  • The revenue miss is mostly due to net sales from General Mills’ North America division falling 2% from the same time last year.
  • The company saw snack sales in the U.S. decline by 4% and its U.S. yogurt sales were down by 2%.
  • There was also a 2% decline in sales from the company’s U.S. Meals & Baking segment.

GIS stock was down 8% as of noon Tuesday and is down 19% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2018/09/general-mills-earnings-highlights/.

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