trending Market Intelligence /marketintelligence/en/news-insights/trending/CR_Qq3XkEYYBun1SC0ecpQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

General Mills raises FY'19 EPS outlook after beating Q3 estimates

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform


General Mills raises FY'19 EPS outlook after beating Q3 estimates

General Mills Inc. has raised its adjusted diluted EPS outlook for fiscal 2019 after reporting better-than-expected third-quarter earnings that surpassed analysts' expectations.

The Minnesota-based food giant said March 20 that it expects its full-year 2019 constant-currency adjusted diluted EPS growth to be flat to 1% higher from its base of $3.11 in fiscal 2018. Its previous outlook was for growth to be flat to 3% lower.

General Mills said it anticipates that organic net sales growth for 2019 will be on the lower end of its initial guidance range calling for flat to 1% higher. It said that net sales, including the impact of the Blue Buffalo acquisition, are expected to finish toward the lower end of forecast range calling for 9% to 10% growth. General Mills bought the pet food company in April 2018 for $8.33 billion.

The company said it is pursuing its "Consumer First" strategy and plans to reshape its portfolio through growth-enhancing acquisitions and divestitures. It also said its accelerating growth on certain product categories, such as Häagen-Dazs ice cream, snack bars, Old El Paso Mexican food, and natural and organic food brands.

General Mills said it expects that its full-year 2019 adjusted operating profit will come in toward the higher end of its prior outlook calling for of 6% to 9% growth on its base of $2.6 billion in fiscal 2018.

For the third quarter ended Feb. 24, the maker of Cocoa Puffs and Cheerios cereal posted adjusted diluted EPS of 83 cents, up by 6% from the year-ago period on a constant-currency basis and above the S&P Global Market Intelligence consensus normalized EPS estimate of 69 cents.

General Mills said its third-quarter net sales rose 8% in reported terms and 10% in constant-currency terms to $4.2 billion, thanks primarily to the integration of Blue Buffalo. The company said third-quarter earnings attributable to the company fell to $447 million, compared to $941 million a year ago as the year-earlier quarter contained gains related to tax reform in the United States.