General Mills Q2 Adj EPS $1.25 Beats $1.16 Estimate, Sales $5.14B Miss $5.35B Estimate
Portfolio Pulse from Benzinga Newsdesk
General Mills (NYSE:GIS) reported Q2 adjusted earnings per share (EPS) of $1.25, surpassing the analyst consensus estimate of $1.16 by 7.76%. This represents a 13.64% increase from the $1.10 EPS reported in the same quarter last year. However, the company's quarterly sales of $5.14 billion fell short of the consensus estimate of $5.35 billion by 3.94%, marking a 1.57% decline from the previous year's sales of $5.22 billion.
December 20, 2023 | 12:01 pm
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NEUTRAL IMPACT
General Mills reported higher-than-expected Q2 adjusted EPS at $1.25, a 13.64% YOY increase, but missed sales estimates with a 1.57% YOY decline.
The mixed results with an EPS beat and a sales miss could lead to neutral short-term impact on General Mills' stock price. While the EPS beat is positive, the sales miss may raise concerns about growth, potentially balancing out investor sentiment.
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IMPORTANCE 80
RELEVANCE 100