General Mills, Inc. (GIS) posted third-quarter fiscal 2024 results, with the bottom line surpassing the Zacks Consensus Estimate and increasing year over year. The top line surpassed the consensus mark but declined from the year-ago quarter’s level. Management reaffirmed its fiscal 2024 guidance.Quarterly HighlightsGeneral Mills posted adjusted earnings of $1.17 per share, surpassing the Zacks Consensus Estimate of $1.04. The bottom line rose 22% year over year on a constant-currency (cc) basis. The upside ...

Key TakeawaysShares of breakfast and snack food giant General Mills Inc. rose Wednesday as its third-quarter earnings report beat estimates.Adjusted net income and earnings per share beat analyst expectations, while the company took a smaller-than-anticipated hit to its net sales compared with the prior-year quarter.General Mills affirmed the full-year guidance it previously lowered when it released its second-quarter earnings in December. General Mills Inc. (GIS) shares rose Wednesday as the breakfast and ...

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General Mills (GIS) reported $5.1 billion in revenue for the quarter ended February 2024, representing a year-over-year decline of 0.5%. EPS of $1.17 for the same period compares to $0.97 a year ago.The reported revenue represents a surprise of +2.93% over the Zacks Consensus Estimate of $4.95 billion. With the consensus EPS estimate being $1.04, the EPS surprise was +12.50%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stree ...

Key PointsGeneral Mills had a solid quarter, outperforming the consensus, widening margins, and guiding cautiously. Capital returns are strong and growing, with a pivot back to revenue growth coming soon.The stock price confirmed a reversal following the release, indicating higher prices are coming.  5 stocks we like better than General MillsGeneral Mills NYSE: GIS stock made a hasty retreat in 2023 as peak inflation, growth and margin fears undercut the market, but now a complete reversal is in play. The c ...

General Mills (GIS) came out with quarterly earnings of $1.17 per share, beating the Zacks Consensus Estimate of $1.04 per share. This compares to earnings of $0.97 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 12.50%. A quarter ago, it was expected that this maker of Cheerios cereal, Yoplait yogurt and other packaged foods would post earnings of $1.15 per share when it actually produced earnings of $1.25, delivering a surpr ...

General Mills, Inc. (NYSE:GIS) Q3 2024 Earnings Call Transcript March 20, 2024 11:00 AM ET Company Participants Jeff Siemon - Vice President, Investor Relations & Treasurer Jeff Harmening - Chairman and Chief Executive Officer Kofi Bruce - Chief Financial Officer Conference Call Participants Jeff Siemon Good morning. This is Jeff Siemon, Vice President of Investor Relations and Treasurer. Thank you for listening to General Mills’ prepared remarks for our fiscal 2024 third-quarter earnings. Later this mornin ...

Fiscal 2024 Q3 Earnings March 20, 2024 General Mills Fiscal 2024 Third Quarter A Reminder on Forward-looking Statements ...

Exhibit 99 FOR IMMEDIATE RELEASE Mar. 20, 2024 General Mills Reports Fiscal 2024 Third-quarter Results • Net sales of $5.1 billion were down 1 percent in the third quarter and organic net sales1 were also down 1 percent; on a 2-year compound growth basis, net sales were up 6 percent and organic net sales were up 7 percent • Operating profit of $911 million was up 25 percent; adjusted operating profit of $914 million increased 14 percent in constant currency • Diluted earnings per share (EPS) of $1.17 were u ...

General Mills, Inc. (GIS) is likely to register a top-line decline when it reports third-quarter fiscal 2024 earnings on Mar 20. The Zacks Consensus Estimate for revenues is pegged at $4.95 billion, which suggests a decrease of 3.4% from the prior-year quarter’s reported figure.The consensus mark for quarterly earnings has remained unchanged in the past 30 days at $1.04 per share. This indicates a rise of 7.2% from the year-ago quarter’s reported figure. GIS has a trailing four-quarter earnings surprise of ...