Pillsbury Maker's Q1 Results Surprises Wall Street, Citing Lowering Inflation
Portfolio Pulse from Shivani Kumaresan
General Mills Inc reported Q1 FY24 sales growth of 4% YoY to $4.90 billion, beating the analyst consensus of $4.88 billion. Organic net sales increased 4%, driven by positive organic net price realization and mix. Adjusted EPS of $1.09 topped the consensus of $1.08. The company reaffirmed FY24 organic sales growth outlook of 3% - 4% and expects adjusted EPS to grow 4% - 6% in constant currency.
September 20, 2023 | 12:05 pm
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General Mills reported better than expected Q1 FY24 results, with sales growth of 4% YoY and adjusted EPS topping consensus. The company reaffirmed its FY24 outlook, which may boost investor confidence.
General Mills reported strong Q1 FY24 results, beating analyst estimates for both sales and EPS. This positive performance, along with the reaffirmation of the FY24 outlook, is likely to boost investor confidence and could lead to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100