Packaged foods company General Mills (NYSE:GIS) will be reporting results this Wednesday before market open. Here’s what investors should know.
General Mills beat analysts’ revenue expectations last quarter, reporting revenues of $4.86 billion, down 7.2% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ organic revenue estimates.
Is General Mills a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting General Mills’s revenue to decline 8.8% year on year, a further deceleration from the 5% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. General Mills has missed Wall Street’s revenue estimates multiple times over the last two years.
With General Mills being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for consumer staples stocks. However, the segment has faced declining investor sentiment as General Mills’s peer group is down 6.6% on average over the last month. General Mills is down 13.2% during the same time .
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.
