General Mills (GIS) Misses Q2 EPS by 1c

General Mills (NYSE: GIS) reported Q2 EPS of $0.82, $0.01 worse than the analyst estimate of $0.83. Revenue for the quarter came in at $4.42 billion versus the consensus estimate of $4.62 billion.

General Mills revised its 2016 full-year growth targets to reflect the impact of the Green Giant divestiture:

• Net sales in constant currency are now expected to decline at a low single-digit rate from the 2015 levels that included a 53rd week.
• Total segment operating profit is expected to essentially match last year's levels in constant currency.
• Constant-currency adjusted diluted EPS is expected to grow at a low single-digit rate from the base of $2.86 earned in fiscal 2015. At current exchange rates, the company estimates a 9-cent headwind from currency translation in 2016.

For earnings history and earnings-related data on General Mills (GIS) click here.

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