General Mills Inc. said its normalized net income for the fiscal second quarter ended Nov. 29 was 75 cents per share, compared with the S&P Capital IQ consensus estimate of 83 cents per share.
EPS increased year over year from 74 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $458.0 million, compared with $454.9 million in the year-earlier period.
The normalized profit margin increased to 10.3% from 9.7% in the year-earlier period.
Total revenue fell 6.1% on an annual basis to $4.42 billion from $4.71 billion, and total operating expenses declined 7.7% year over year to $3.62 billion from $3.92 billion.
Reported net income rose 53.8% from the prior-year period to $532.8 million, or 87 cents per share, from $346.3 million, or 56 cents per share.
