Wednesday, March 23, 2016

General Mills Q3 Profit Tops Estimates; Sales Down 8%; Reaffirms FY16 Outlook

General Mills (GIS) reported third quarter net earnings attributable to company of $361.7 million compared to $343.2 million, prior year. EPS totaled $0.59 compared to $0.56. Total segment operating profit declined 3 percent to $679 million. On a constant-currency basis, total segment operating profit declined 1 percent. Third-quarter adjusted EPS declined 7 percent to $0.65. On a constant-currency basis, adjusted EPS declined 6 percent. On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.62 for the quarter. Analysts' estimates typically exclude special items.

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