General Mills: stock up as guidance raised
(CercleFinance.com) - On Wednesday General Mills raised its FY sales and earnings estimates, encouraged by its performance in Q4 and its ability to adapt to an environment deemed "volatile".
The maker of Häagen-Dazs ice cream and Yoplait yoghurt, amongst other things, now says it expects organic net sales growth of 6% to 7% this year, vs. 4% to 5% previously.
It also expects its adjusted EPS to grow by 2% to 5% at constant exchange rates, compared with a previous range of 0 to 3%.
In Q1 to the end-August, revenue rose 4% to 4.7 billion dollars, with organic growth of 10%.
Meanwhile, EPS leapt 32% to 1.35 dollar, i.e. adjusted EPS of 1.11 dollar.
The stock closed up almost 6% yesterday.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The maker of Häagen-Dazs ice cream and Yoplait yoghurt, amongst other things, now says it expects organic net sales growth of 6% to 7% this year, vs. 4% to 5% previously.
It also expects its adjusted EPS to grow by 2% to 5% at constant exchange rates, compared with a previous range of 0 to 3%.
In Q1 to the end-August, revenue rose 4% to 4.7 billion dollars, with organic growth of 10%.
Meanwhile, EPS leapt 32% to 1.35 dollar, i.e. adjusted EPS of 1.11 dollar.
The stock closed up almost 6% yesterday.
Copyright (c) 2022 CercleFinance.com. All rights reserved.