The most recent General Mills earnings report has GIS stock on its way up Wednesday.
General Mills (NYSE:GIS) reported earnings per share of 85 cents for its fiscal second quarter of 2019. This is up from the company’s earnings per share of 82 cents reported in its fiscal second quarter of 2018. It was also good news for GIS stock by beating out Wall Street’s earnings per share estimate of 81 cents for the quarter.
The General Mills earnings report for its fiscal second quarter of 2019 also includes net income of $343.40 million. The company’s net income from the same period of the year prior was $430.50 million.
Operating income reported in the General Mills earnings report for its fiscal second quarter of the year was $547.00 million. This is a drop from the company’s operating income of $709.00 million reported in its fiscal second quarter of the previous year.
During the General Mills earnings report for its fiscal second quarter of 2019, the company reported revenue of $4.41 billion. This is an increase over the company’s revenue of $4.20 million reported during the same time last year. However, this did have it missing analysts’ revenue estimate of $4.51 billion for the period, but that couldn’t keep GIS stock down today.
General Mills also took time during its earnings report to reaffirm its outlook for fiscal 2019. This includes earnings per share ranging from flat to down 3% from its fiscal 2018 earnings per share of $3.11. Wall Street is looking for GIS to report earnings per share of $3.06 for the fiscal year.
GIS stock was up 6% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
