Categories Earnings, Retail

What to look for when General Mills (GIS) reports Q2 results

General Mills (NYSE: GIS) is scheduled to report second quarter 2020 earnings results on Wednesday, December 18, before the market opens. Analysts have forecast earnings of $0.88 per share on revenue of $4.43 billion.

The quarterly results are likely to benefit from the company’s growth strategies which focus on innovation, marketing and in-store execution. General Mills has been revamping its portfolio through acquisitions and divestitures and the company is likely to see benefits from the Blue Buffalo acquisition in the second quarter as well.

General Mills tops estimates in Q1 but FY20 outlook falls short of consensus

General Mills has been seeing weakness in its Europe & Australia and Asia & Latin America segments and this might continue in the second quarter as well. The North American Retail segment might see benefits from net price realization and mix. The company’s cost reduction efforts are also likely to benefit the bottom line numbers.

In the first quarter of 2020, General Mills beat earnings estimates while revenues matched expectations. Net sales fell by 2% to $4 billion while adjusted EPS rose 13% to $0.79.

Also read: General Mills Q1 2020 Earnings Conference Call Transcript

For fiscal 2020, the company expects organic net sales growth of 1% to 2%. Reported net sales are anticipated to rise by about 1% backed by a combination of currency translation, the impact of divestitures executed in fiscal 2019, and contributions from the 53rd week. Adjusted earnings are predicted to increase by 3% to 5% from the base of $3.22 earned in 2019.

Shares of General Mills have gained 33% so far this year. The majority of analysts have rated the stock as Hold and the average price target is $55.86.

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

Most Popular

Key highlights from Box (BOX) Q4 2021 earnings results

Box Inc. (NYSE: BOX) reported fourth quarter 2021 earnings results today. Revenues rose 8% year-over-year to $198.9 million. GAAP net loss was $4.9 million, or $0.03 per share, compared to

Infographic: Highlights of Hewlett Packard’s (HPE) Q1 2021 earnings report

Technology firm Hewlett Packard Enterprise Company (NYSE: HPE) reported higher earnings for the first quarter of 2021, despite a decrease in revenues. The numbers surpassed the consensus forecast. First-quarter earnings,

MercadoLibre (MELI): Here is a stock to have on your investment radar

MercadoLibre Inc. (NASDAQ: MELI) is one of the stocks that benefited from the COVID-19 pandemic. The Argentine ecommerce company has caught the attention of market experts as it garnered growth

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