Business News

General Mills Fiscal Q4 Results Top Street Estimates

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General Mills, a manufacturer of consumer food products, reported Wednesday fiscal Q4 adjusted net profit of $0.73 per share, up from $0.66 per share in the prior year period and above the $0.71 per share Street estimate provided by Capital IQ.

Net sales for the quarter ended May 28 were $3.81 billion, down from $3.93 billion reported for the same period last year but still came in higher than the $3.75 billion Street estimate. For fiscal 2018, the company expects constant currency adjusted EPS to increase 1% to 2% from the $3.08 EPS in the prior year, and currency headwind of $0.01 per share. Organic net sales are expected to decline 1% to 2%.