General Mills (GIS) delivered a strong financial performance in the second quarter, with profit figures surpassing both the previous year's results and analysts' expectations.
The company recorded a net income of $795.7 million, translating to earnings of $1.42 per share. This marks a significant increase from the $595.5 million, or $1.02 per share, reported in the same quarter of the previous year.
When excluding certain items, the adjusted earnings stood at $785.2 million, or $1.40 per share for the quarter.
Analysts, as surveyed by Thomson Reuters, had anticipated earnings of $1.22 per share on average, typically excluding any special items.
Moreover, General Mills experienced a 2.0% rise in revenue, totaling $5.240 billion compared to $5.139 billion in the same period last year.
Key Financial Highlights for General Mills (GAAP):
- **Earnings for Q2:** $795.7 million, compared to $595.5 million last year.
- **Earnings Per Share (EPS) for Q2:** $1.42, compared to $1.02 last year.
- **Revenue for Q2:** $5.240 billion, compared to $5.139 billion last year.
