General Mills (GIS) Q2 Earnings and Revenues Surpass Estimates

Core Viewpoint - General Mills reported quarterly earnings of $1.40 per share, exceeding the Zacks Consensus Estimate of $1.22 per share, and showing an increase from $1.25 per share a year ago [1][3] Financial Performance - The earnings surprise for the quarter was 14.75%, with previous expectations of $1.05 per share being surpassed by actual earnings of $1.07, resulting in a surprise of 1.90% [2] - Revenues for the quarter reached $5.24 billion, surpassing the Zacks Consensus Estimate by 1.61%, and showing an increase from $5.14 billion year-over-year [3] Stock Performance and Outlook - General Mills shares have increased by approximately 1.2% since the beginning of the year, in contrast to the S&P 500's gain of 26.9% [4] - The company's earnings outlook is mixed, with a current Zacks Rank of 3 (Hold), indicating expected performance in line with the market [7] Future Earnings Estimates - The current consensus EPS estimate for the upcoming quarter is $1.14 on revenues of $5.16 billion, and for the current fiscal year, it is $4.50 on revenues of $20.05 billion [8] Industry Context - The Food - Miscellaneous industry, to which General Mills belongs, is currently ranked in the bottom 49% of over 250 Zacks industries, suggesting potential challenges ahead [9]