General Mills meets 2Q profit forecasts

MINNEAPOLIS — General Mills Inc. (GIS) today reported fiscal second-quarter earnings of $529.5 million.

The Minneapolis-based company said it had profit of 87 cents per share. Earnings, adjusted for non-recurring gains, came to 82 cents per share.

The results met Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of 82 cents per share.

The maker of Cheerios cereal, Yoplait yogurt and other packaged foods posted revenue of $4.42 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $4.57 billion.

General Mills shares have risen 11 percent since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 1 percent. The stock has risen 16 percent in the last 12 months.

What To Read Next
Get Local