General Mills(US:GIS) ZACKS·2024-06-26 14:30Core Insights - General Mills reported revenue of $4.71 billion for the quarter ended May 2024, a decrease of 6.3% year-over-year, and EPS of $1.01, down from $1.12 in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of $4.87 billion by 3.27%, while the EPS exceeded the consensus estimate of $0.99 by 2.02% [1] Revenue Performance - North America Foodservice net sales were $589 million, surpassing the average estimate of $571.48 million, reflecting a year-over-year increase of 4.4% [2] - International net sales were $667.50 million, below the average estimate of $740.33 million, showing a decline of 10.4% year-over-year [2] - Pet segment net sales reached $602.10 million, falling short of the average estimate of $625.14 million, representing an 8.1% decrease year-over-year [2] - North America Retail net sales totaled $2.85 billion, below the average estimate of $2.94 billion, marking a 6.9% decline year-over-year [2] Operating Profit Analysis - North America Retail operating profit was $670.10 million, compared to the average estimate of $689.78 million [2] - International operating profit was $22.40 million, significantly lower than the average estimate of $64.26 million [2] - Pet operating profit reached $143.90 million, exceeding the average estimate of $125.04 million [2] - North America Foodservice operating profit was $79.20 million, slightly above the average estimate of $75.65 million [2] Stock Performance - General Mills shares have returned +0.9% over the past month, compared to a +3.2% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]