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General Mills Inc. Shares
GIS, + 0.11%
The first-quarter sales figure fell 1.1% in the pre-commercial trade, after the branded consumer products company reported tax results higher than expected for the fourth quarter, while sales were in line with expectations. Net income for the quarter ended May 27 went from $ 408.9 million, or 69 cents per share, to $ 354.4 million, or 59 cents per share, over the same period there is a year. Excluding non-recurring items, adjusted earnings per share were 79 cents above FactSet consensus of 71 cents. Sales rose 2.2% to $ 3.89 billion, as convenience and convenience store sales exceeded retail sales expectations in North America, its largest consumer segment. sales. For fiscal year 2019, organic net sales should be stable at 1%, or increase by 9% to 10% if account is taken of the impact of the Blue Buffalo acquisition . The $ 17.28 billion FactSet consensus implies revenue growth of 9.8%. The stock had plummeted 22% since the beginning of the year until Tuesday, but had gained 1.7% over the last three months, while the S & P 500
SPX, + 0.22%
had increased 4.2% in the last three months.
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