SmarTrend(R) News Watch: General Mills Beats EPS Estimate, Issues Strong 2010 Guidance
Wed. July 01, 2009; Posted: 10:09 AM
Jul 01, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- General Mills (NYSE:GIS) reported Q4 EPS of $0.86, ex-items, beating consensus analyst estimates of $0.81. Revenues for the quarter rose 5% year-over-year to $3.6 billion, inline with consensus estimates for $3.69 billion. CEO Ken Powell commented, "In today's very challenging economic environment, our leading food brands offer the quality, convenience and value that consumers are looking for and, as a result, our businesses are showing strong growth." General Mills issued guidance for FY 2010, expecting between $4.20 and $4.25 per share, excluding the impact of commodity costs. Consensus estimates are expecting $4.18 per share. Shares of GIS are up 3.2%.
Write to Chip Brian at cbrian@tradethetrend.com
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