General Mills (GIS) Beats Q3 Earnings Estimates

Core Viewpoint - General Mills reported quarterly earnings of $1 per share, exceeding the Zacks Consensus Estimate of $0.95 per share, but down from $1.17 per share a year ago [1][2] Financial Performance - The earnings surprise for the quarter was 5.26%, with the company previously expected to post earnings of $1.22 per share but actually reporting $1.40, resulting in a surprise of 14.75% [2] - Revenues for the quarter were $4.84 billion, missing the Zacks Consensus Estimate by 2.28%, and down from $5.1 billion year-over-year [3] - Over the last four quarters, General Mills has surpassed consensus EPS estimates four times and topped revenue estimates twice [2][3] Stock Performance and Outlook - General Mills shares have declined approximately 5.2% since the beginning of the year, compared to a decline of 4.5% for the S&P 500 [4] - The current consensus EPS estimate for the upcoming quarter is $0.93 on revenues of $4.75 billion, and for the current fiscal year, it is $4.36 on revenues of $19.79 billion [8] Industry Context - The Zacks Industry Rank for Food - Miscellaneous, which includes General Mills, is currently in the bottom 46% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [9]