General Mills (NYSE:GIS) is expected to report increased sales and profits for the fiscal second quarter of 2024 as demand for its brands remains resilient despite consumer caution amid challenging economic conditions.
The processed consumer foods company – whose brands include Annie’s, Betty Crocker, Cheerios, Cinnamon Toast Crunch, Dunkaroos, Häagen-Dazs, Lucky Charms, and Pillsbury – is expected by Wall Street analysts to report a 2.8% increase in revenue when compared over the year-ago quarter.
It is expected to report sales of $5.37 billion, up from $5.22 billion.
Earnings per share (EPS) are anticipated to be 5.5% higher than the same period last year at $1.16, according to Zacks Equity Research.
Shares of General Mills (NYSE:GIS) traded hands at about US$66 premarket on Friday and have shed more than 20% in the year to date.
The company will report its 2Q financial results on Wednesday, December 20, 2023.
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