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General Mills' (GIS) Q4 Earnings & Sales Top Estimates, Drop Y/Y
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The company’s adjusted earnings per share of 91 cents tumbled 19% year over year on a constant-currency (cc) basis. The year-over-year downside can be accountable to reduced adjusted operating profit. Nonetheless, the bottom line surpassed the Zacks Consensus Estimate of 83 cents.
Net sales of $4,523.6 million fell 10% year over year, which included a headwind of 5 points related to an additional week of results in the year-ago period, as well as a 2-point positive impact from currency movements. Organic net sales fell 6% due to reduced organic pound volume, which in turn was a result of tough comparisons with the year-ago period’s spike in the at-home food demand due to the coronavirus outbreak.
On a two-year compound growth basis (or compared to the pre-pandemic level), organic net sales rose 4%. The top line came ahead of the Zacks Consensus Estimate of $4,331 million.
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https://finance.yahoo.com/news/general-m...07104.html
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The company’s adjusted earnings per share of 91 cents tumbled 19% year over year on a constant-currency (cc) basis. The year-over-year downside can be accountable to reduced adjusted operating profit. Nonetheless, the bottom line surpassed the Zacks Consensus Estimate of 83 cents.
Net sales of $4,523.6 million fell 10% year over year, which included a headwind of 5 points related to an additional week of results in the year-ago period, as well as a 2-point positive impact from currency movements. Organic net sales fell 6% due to reduced organic pound volume, which in turn was a result of tough comparisons with the year-ago period’s spike in the at-home food demand due to the coronavirus outbreak.
On a two-year compound growth basis (or compared to the pre-pandemic level), organic net sales rose 4%. The top line came ahead of the Zacks Consensus Estimate of $4,331 million.
...
https://finance.yahoo.com/news/general-m...07104.html
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