KMB - Will General Mills Top Estimates in Q4 Earnings Release? | Benzinga
General Mills, Inc. (NYSE: GIS) is likely to register a top and bottom-line decline when it reports fourth-quarter fiscal 2024 earnings on Jun 26. The Zacks Consensus Estimate for revenues is pegged at $4.87 billion, which indicates a 3.1% decrease from the year-ago period.
The consensus mark for quarterly earnings has declined by a penny in the past 30 days to 99 cents per share. This indicates a drop of 11.6% from the year-ago quarter's reported figure. However, GIS has a trailing four-quarter earnings surprise of 7.2%, on average.
For fiscal 2024, the Zacks Consensus Estimate for revenues stands at $20.02 billion, which calls for a 0.4% dip from the year-ago period. The consensus estimate for EPS is pegged at $4.50, which suggests 4.7% growth year over year.
General Mills, Inc. Price, Consensus and EPS Surprise
General Mills, Inc. price-consensus-eps-surprise-chart | General Mills, Inc. Quote
Factors to Note
General Mills' Pet segment sales have been declining year over year for the past few quarters now. Revenues dropped 3% year over year to $624.5 million in the third quarter of fiscal 2024, hurt by the reduced pound volume. Segmental organic sales also declined 3%. Sales fell due to softness in treats and dry food owing to Wilderness. The macro-environment in the United States continues to serve as a hindrance to premium pet food, with pet owners showing an increased preference for value-oriented packs.
Although results improved sequentially in the third quarter, ...