12:20 pm General Mills Falls on Generally Disappointing Results
The stock of consumer foods company General Mills (GIS 51.21, -1.97) is under pressure today and it's not a stretch to understand why. The company spells it out in bullet-point format in the fiscal first quarter earnings summary that was released before the start of trading.
- Net sales declined 2% to $4.27 billion
- Segment operating profit declined 15% to $690 million; and
- Adjusted diluted EPS declined 13% to $0.61
Both sales and diluted EPS were below analysts' expectations. The weak results, General Mills said, …More