Categories AlphaGraphs, Consumer

How General Mills (GIS) performed in Q2 financial results

General Mills, Inc. (NYSE:GIS) reported second quarter 2021 earnings results today.

Net sales rose 7% year-over-year to $4.7 billion, reflecting market share gains from at-home food demand. Organic net sales grew 7%.

Net earnings attributable to General Mills increased 19% to $688 million while EPS rose 17% to $1.11, mainly due to higher operating profit, lower net interest expense, and higher after-tax earnings from joint ventures. Adjusted EPS amounted to $1.06.

General Mills expects the COVID-19 pandemic to drive continued demand for food at home and the demand trends in the third quarter are expected to remain consistent with recent months. Based on this assumption, the company estimates organic sales growth for the third quarter to be similar to that of the second quarter. Adjusted operating profit margin for Q3 is expected to be in line with the same period a year ago.

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

Mattel (MAT): A look at the toymaker’s expectations for the year

Shares of Mattel, Inc. (NASDAQ: MAT) were up slightly on Thursday. The stock has gained 20% year-to-date and 19% over the past three months. There is a level of optimism

Earnings Preview: Paychex likely to report higher Q1 revenue and profit

Paychex Inc. (NASDAQ: PAYX), a leading provider of human capital management solutions, is all set to publish operating results for the first three months of fiscal 2024. The company has

DRI Earnings: Key quarterly highlights from Darden Restaurants’ Q1 2024 financial results

Darden Restaurants, Inc. (NYSE: DRI) reported first quarter 2024 earnings results today. Total sales increased 11.6% to $2.73 billion compared to the same period last year. Blended same-restaurant sales were

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top