Why General Mills Shares Are Trading Higher Today

General Mills Inc GIS shares are trading higher Wednesday after the company reported better-than-expected earnings results and raised guidance.

General Mills said fiscal 2022 third-quarter revenue "essentially matched" revenue from the prior year's quarter. The company reported $4.54 billion in quarterly revenue, which came in below the $4.56 billion estimate.

General Mills reported quarterly adjusted earnings of 84 cents per share, which beat the estimate of 78 cents per share.

The company raised its full fiscal-year 2022 organic net revenue growth guidance from a range of 4% to 5% to approximately 5%.

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GIS 52-Week Range: $56.67 - $69.95

The stock was up 3.19% at $64.68 at time of publication.

Photo: PublicDomainPictures from Pixabay.