Gear Up for General Mills (GIS) Q3 Earnings: Wall Street Estimates for Key Metrics

Core Viewpoint - General Mills is expected to report a decline in quarterly earnings and revenues, with analysts predicting earnings of $0.95 per share, an 18.8$4.96 billion, a 2.8% decrease compared to the same period last year [1]. Earnings Estimates - The consensus EPS estimate for the quarter has been adjusted downward by 2.4% over the past 30 days, indicating a reassessment by analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical research shows a strong correlation between earnings estimate revisions and short-term stock performance [3]. Key Metrics Forecast - Analysts forecast 'Net Sales- North America Foodservice' to reach $576.36 million, reflecting a year-over-year increase of 4.5$686.85 million, indicating a 1% year-over-year increase [5]. - 'Net Sales- North America Pet' is projected at $636.11 million, showing a 1.9$3.07 billion, representing a 5.3% decrease from the previous year [6]. Operating Profit Estimates - 'Operating Profit- North America Retail' is expected to be $671.69 million, down from$752.20 million year-over-year [6]. - 'Operating Profit- International' is projected at $20.31 million, an increase from$18.20 million in the same quarter last year [7]. - 'Operating Profit- North America Pet' is forecasted to reach $131.74 million, compared to$128.30 million in the same quarter of the previous year [7]. - 'Operating Profit- North America Foodservice' is expected to be $88.74 million, up from$81.70 million in the same quarter last year [8]. Stock Performance - General Mills shares have increased by 0.5% over the past month, contrasting with a -9.6% change in the Zacks S&P 500 composite [9]. - The company holds a Zacks Rank 3 (Hold), indicating it is expected to closely follow overall market performance in the near term [9].