Wednesday, September 20, 2017

General Mills Shares Down After Profit, Sales Miss Estimates

General Mills (GIS) reported that its adjusted EPS totaled $0.71 in the first quarter, down 9 percent from the prior year. Constant-currency adjusted EPS also declined 9 percent, reflecting lower adjusted operating profit. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.76, for the quarter. Analysts' estimates typically exclude special items. Total segment operating profit of $664 million was down 16 percent in constant currency. Net earnings attributable to General Mills totaled $405 million, down 1 percent from a year ago.

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