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.
Autodesk, Inc. (NASDAQ: ADSK) today reported its fourth quarter financial results for the period ended January 31, 2021. Net income for the fourth quarter was $911.3 million, or $4.10 per
Beyond Meat (NASDAQ: BYND), a specialist in plant-based meat substitutes, Thursday reported a wider loss for the fourth quarter, despite an increase in revenues. The numbers also missed the consensus
Virgin Galactic (NYSE: SPCE) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The space tourism company reported zero revenue in the fourth quarter, compared to $529,000