trending Market Intelligence /marketintelligence/en/news-insights/trending/1i5fzRASn5ud0049TdfFJw2 content esgSubNav
In This List

General Mills fiscal Q2 profit climbs YOY

Blog

Europe: 5 key OTT trends to watch in 2022

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud


General Mills fiscal Q2 profit climbs YOY

General Mills Inc. said its normalized net income for the fiscal second quarter ended Nov. 27 amounted to 80 cents per share, compared with the S&P Capital IQ consensus estimate of 86 cents per share.

EPS climbed 6.9% year over year from 75 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $479.5 million, a gain from $458.0 million in the prior-year period.

The normalized profit margin increased to 11.7% from 10.3% in the year-earlier period.

Total revenue decreased 7.1% on an annual basis to $4.11 billion from $4.42 billion, and total operating expenses declined 9.5% on an annual basis to $3.28 billion from $3.62 billion.

Reported net income fell 10.0% from the prior-year period to $479.8 million, or 80 cents per share, from $532.8 million, or 87 cents per share.