Categories AlphaGraphs, Consumer, Earnings
General Mills Q2 2019 earnings preview: profit touted to slide
Cheerios-maker General Mills (GIS) is expected to post its second-quarter earnings on Wednesday, Dec. 19 before the opening bell. The Street expects a decline in earnings even as the top line could rise.
Analysts expect earnings of $0.81 per share on revenue of $4.51 billion.
The Yoplait yogurt maker saw its earnings slide in the previous quarter. The stock soon saw a selloff as the top line missed estimates as well. The profitability was also impacted by a 160-bps fall in gross margin due to cost inflation and charges related to the acquisition of Blue Buffalo.
While posting earnings, General Mills also reiterated its FY2019 outlook of adjusted earnings between flat and down 3% year-on-year, while expecting a full-year net sales jump of 9-10%.
Back in February, Blue Buffalo Pet Products was acquired by General Millsm for about $8 billion ($40 per share) in cash.
Blue Buffalo was a leading pet food company that saw growth in the green over the past few years through its natural treats for dogs and cats. The company’s most prominent brand BLUE tops the list of Wholesome Natural pet foods, posting over $1 billion in net sales last year.
Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference, and much more!
Most Popular
QCOM Earnings: Qualcomm Q2 2024 revenue and profit beat Street view
Semiconductor company Qualcomm, Inc. (NASDAQ: QCOM) reported an increase in earnings and revenues for the second quarter of 2024. The numbers came in above analysts' estimates. At $9.39 billion, March-quarter
Key takeaways from Amazon’s Q1 2024 earnings report
Amazon.com Inc. (NASDAQ: AMZN) had an upbeat start to fiscal 2024, delivering strong growth across the business in the first three months of the year. While the cloud segment continues
Key takeaways from Pfizer’s (PFE) Q1 2024 earnings report
Shares of Pfizer Inc. (NYSE: PFE) gained over 5% on Wednesday following the company’s announcement of its first quarter 2024 earnings results. Although the top and bottom line numbers decreased