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.