Food company General Mills’ (GIS) latest earnings have beat Wall Street forecasts on both the top and bottom lines.
For its fiscal 2024 first quarter, General Mills reported earnings per share of $1.09 U.S., ahead of the consensus estimate among analysts of $1.08 U.S.
Revenue in the quarter totaled $4.90 billion U.S., which was also ahead of the $4.88 billion U.S. that was anticipated on Wall Street, according to data from FactSet.
General Mills, which makes Cheerios breakfast cereal, Yoplait yogurt, and Betty Crocker baking products, reaffirmed its full-year guidance.
The company continues to expect that its profits will increase 4% to 6% for its fiscal 2024 year, and that its revenue will rise 3% to 4% during the same time period.
General Mills’ stock has declined 13% over the last 12 months and currently trades at $65.88 U.S. per share.
