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General Mills, Inc. (NYSE:GIS) reported first-quarter earnings of 79 cents per share Wednesday, beating the analyst consensus estimate of 77 cents by 2.6%.
This is a 11.27% increase over earnings of 71 cents per share in the same period last year.
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The company reported quarterly sales of $4.003 billion, missing the analyst consensus estimate of $4.08 billion by 1.89%.
"Our first-quarter net sales performance included encouraging improvement in North America Retail and strong growth in Pet, driven by good innovation and effective brand-building investment,” General Mills Chairman CEO Jeff Harmening said in a statement.
“We got off to a slower start in our other segments, and we're taking actions to drive topline improvement for those segments and the company starting in the second-quarter.”
General Mills shares were trading down by 1.87% at $54 in Wednesday’s pre-market session. The stock has a 52-week high of $64.02 and a 52-week low of $44.28.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.