Recap: General Mills Q1 Earnings

Shares of General Mills GIS moved higher by 2.1% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share increased 26.58% over the past year to $1.00, which beat the estimate of $0.87.

Revenue of $4,364,000,000 up by 9.02% from the same period last year, which beat the estimate of $4,210,000,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: Sep 23, 2020

Time: 08:30 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Finvestors.generalmills.com%2Fevents-and-presentations%2Fdefault.aspx&eventid=2633187&sessionid=1&key=D6B50ECB605C2F48ECE1A4706712ACB7&regTag=&sourcepage=register

Technicals

52-week high: $66.14

Company's 52-week low was at $46.59

Price action over last quarter: down 3.01%

Company Description

General Mills is a leading global packaged food company that produces snacks, cereal, convenient meals, yogurt, dough, baking mixes and ingredients, pet food, and superpremium ice cream. Its largest brands are Nature Valley, Cheerios, Old El Paso, Yoplait, Pillsbury, Betty Crocker, Blue Buffalo, and Haagen-Dazs. In fiscal 2020, 76% of its revenue was derived from the United States, although the company also operates in Canada, Europe, Australia, Asia, and Latin America. While most of General Mills' products are sold through retail stores to consumers, the company also sells products into the food-service channel and commercial baking industry.