General Mills Q3 Sales $5.099B Beat $4.962B Estimate
Portfolio Pulse from Benzinga Newsdesk
General Mills (NYSE:GIS) reported Q3 earnings of $1.17 per share, surpassing the consensus estimate of $1.05 by 11.43%. Quarterly sales were $5.099 billion, exceeding the $4.962 billion estimate by 2.76%, but marking a 0.53% decrease from the previous year.
March 20, 2024 | 11:03 am
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General Mills reported higher-than-expected Q3 earnings and sales, with earnings per share at $1.17 and sales at $5.099 billion.
The positive earnings and sales report from General Mills is likely to instill investor confidence and could lead to a short-term uptick in GIS stock price. Beating both earnings and sales estimates, especially in a challenging economic environment, highlights the company's operational efficiency and market strength. However, the slight year-over-year decrease in sales might temper some of the positive momentum.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100