Categories Consumer, Earnings

General Mills earnings preview: Expect strong results in Q1

General Mills (NYSE: GIS) is slated to report first quarter 2020 earnings results on Wednesday, September 18, before the opening bell. The Street expects earnings to grow 8.5% to $0.77 per share. Revenue is estimated to be $4.08 billion.

General Mills has laid out a framework to drive growth in fiscal year 2020 and this plan includes driving innovation and improving marketing and in-store execution. The company increased the pace of new product innovation to nearly 5% in fiscal year 2019.

General Mills reports fourth quarter 2019 earnings results

General Mills also aims to drive growth across its differential platforms, including Haagen-Dazs ice cream, snack bars, Old El Paso Mexican food and its portfolio of natural and organic brands. These initiatives are expected to benefit the company in the first quarter.

The consumer foods producer is revamping its portfolio through prudent acquisitions and divestitures and an example of this strategy paying off is the Blue Buffalo acquisition which has proved beneficial to the company. These efforts are also expected to help results in the to-be-reported quarter.

Like its peers, General Mills is struggling with higher input costs which are likely to pressure margins in the quarter. However, the company has been taking several measures to reduce costs and these efforts are likely to help earnings.

Also see: General Mills Q4 2019 Earnings Call Transcript

In the fourth quarter of 2019, General Mills beat earnings estimates but revenues missed expectations. Revenue grew 7% to $4.16 billion and adjusted EPS rose 6% to $0.83 per share.

For fiscal 2020, General Mills expects a 1-2% increase in organic net sales, while constant-currency adjusted EPS is expected to grow 3-5% from the base of $3.22 earned in fiscal 2019.

Shares of General Mills have gained 39% thus far this year. The stock has an average price target of $54.67.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

JetBlue Airways (JBLU) Q4 2022 Earnings: Key financials and quarterly highlights

JetBlue Airways Corporation (NASDAQ: JBLU) reported fourth quarter 2022 earnings results today. Total operating revenues increased 32% year-over-year to $2.4 billion.   Net income amounted to $24 million, or $0.07

AAL Q4 2022 Report: Highlights American Airlines earnings

American Airlines Group (NASDAQ: AAL) announced fourth-quarter 2022 financial results on Thursday, reporting a sharp increase in revenues. The company turned profit from a loss last year. Total operating revenues

LUV Earnings: A snapshot of Southwest Airlines’ Q4 2022 report

Southwest Airlines Co. (NYSE: LUV) on Thursday announced financial results for the fourth quarter of 2022, reporting a net loss and a double-digit increase in revenues. Total operating revenue was

Add Comment
Viewing Highlight