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Wednesday, May 31, 2023

    What to Expect From General Mills’ Q3 Earnings Tomorrow?

    Analysts at RBC Capital provided their outlook on General Mills, Inc. (NYSE:GIS) ahead of tomorrow’s Q3 earnings announcement, expecting adjusted EPS of $0.93 (vs Street estimate of $0.92) and organic growth of 11.5% (vs. Street estimate 11.7%).
    The analysts expect pricing to continue offsetting comparatively mild volume softness, given the trends in scanner data. According to the analysts, ongoing stabilization in the pet food business should support the modest gross margin expansion that the company expects in 2023.
    The company raised its 2023 guidance in late February (after raising the guide on the Q2 call), calling for organic sales growth of 10% (vs. prior 8-9%), and adjusted EPS growth of 7-8% (vs. prior 4-6%).
    Given the intra-quarter update, the analysts expect the company to reiterate its outlook for the remainder of the year.


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